Bitcoin (BTC) ran into trouble at $ 46,000 on September 12 after a “strong bullish divergence” encountered resistance on lower time frames.
Data from Cointelegraph Markets Pro and TradingView show BTC / USD is seeing a heavy rejection after hitting a local high of $ 46,280 on Bitstamp.
The move continued through the various weekends when the pair was unable to recover from the Friday sell-off.
$ 45,500 is an important level for Bitcoin in terms of its 50-day moving average, a level that continued to be held as support on Sunday.
As Note According to trader and analyst Rekt Capital, the lower time frames show increasing strength for the day with a “strong bullish divergence” characteristic of the 4-hour chart. However, at the time of writing, no new levels have been added as support.
“Bitcoin made a lower low in the 4-hour timeframe for the days September 8-10,” he said. summary.
“However, $ BTC made a new higher low in the 4-hour timeframe during September 10th and 12th.”
Cointelegraph Contributing Analyst Michaël van de Poppe is also looking for a lower structure.
Brothers speak Saturday.
As Cointelegraph reported, Bitcoin price is expected to drop as low as $ 38,000, with September being a month of reflection on a resumption of the bull run.
Related: Bullish breakout pushes Avalanche towards $ 80 as AVAX price hits another record high
Bitcoin’s overall dominance in the crypto market continued to decline over the weekend, almost 40% above what could prove to be a boon to altcoin performance.
Signs of life surfaced on the big Sunday, with Polkadot (DOT) leading the top 10 with a daily gain of 10%.
The largest altcoin, Ether (ETH), is up 3.2% to $ 3,425 but is still 13% lower than late last week.
.
.
Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…
VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…
President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.
Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…
BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…
Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…
This website uses cookies.