AD
AD
AD

Bitcoin (BTC) Price Analysis for September 1

article image
Cover image via CryptoComes.com

Has Bitcoin (BTC) gathered enough power to aim at the $50,000 mark?

Wed, 09/01/2021 - 15:27
Advertisement

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of CryptoComes. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

While the altcoins keep going up, the rate of Bitcoin (BTC) remains in the same place.

Top 10 coins

Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has gone down by 0.55% over the last 24 hours; however, bears have not seized the initiative yet.

BTC/USD 1-hour chart

BTC/USD chart by TradingView

On the hourly chart, Bitcoin (BTC) tested the formed mirror level at $47,460 and bounced off. There is a low chance that the decline will continue as the chief crypto has run out of power for a further drop while facing a strong leveling. In this case, the more likely scenario is a rise to the local resistance at $48,100.

BTC/USD 4-hour chart

BTC/USD chart by TradingView

On the 4H chart, Bitcoin (BTC) could not fix above $48,000, followed by an ongoing short-term decrease. The selling trading volume is going down, which means that buyers have the chance to make a reversal in the zone at $47,200 where most of the liquidity is focused.

BTC/USD 1-day chart

BTC/USD chart by TradingView

On the bigger time frame, the main coin is trading in a sideways trend as neither bulls nor bears have seized the initiative. Buyers can become more powerful only if BTC breaks the resistance at $49,800 and fixes above it.

Bitcoin is trading at $47,477 at press time.

Advertisement
Hot stuff
1,249,577 XRP in 24 Hours Push Price to New Frontier
3 weeks 5 days ago
Shiba Inu (SHIB) Price to Add $0 This Test is Failed
3 weeks 6 days ago
Cardano Kicks Off New Round of Stake Pool Delegation
4 years ago
Blow to Ripple as SEC Gets Access to Company's Missing Slack Messages
4 years ago
Anti-Bitcoin Activist Arrested in El Salvador
4 years ago
Advertisement
Name card
LINK, BCH, and BNB Price Analysis for January 13
4 years ago
Name card
Bitcoin (BTC) Price Analysis for January 12
4 years ago
Name card
Ethereum (ETH) Price Analysis for January 11
4 years ago