Bitcoin (Bitcoin) It rebounded to the support level of 46,000 USD on August 14. The previous attempt to break through the main resistance level ended in failure.
Bitcoin rejected for $48,000
Data from Cointelegraph Markets Pro and Transaction view It shows that BTC/USD rose on Saturday in response to a huge selling wall, but then fell to Friday’s level.
As Cointelegraph Report, The seller pressure area from $47,000 and above has been a strong feature on the entire Sunday chart, and Bitcoin needs a few days to prepare for an attack.
In the event, the wall is Only partially damaged Before the momentum runs out and BTC/USD returns to more familiar areas.
At the time of writing, the BTC price trend is concentrated around US$46,500, which is a typical “Bart Simpson” structure of the past 24 hours.
Cointelegraph writer Michaël van de Poppe “There is nothing special about this move, it’s just a typical weekend.” Summarize.
“However, the heavy resistance zone was touched between $47-49,000 and Bitcoin did not make a breakthrough. Be cautious.”
The right trading volume is needed to sustain another rise and flip the new resistance level to the support level-a breakout without this volume may eventually fail and cost overly optimistic traders
At the same time, trader and analyst Rekt Capital pays attention to the upcoming daily closing price to confirm the $46,000 support zone reached a few days ago.
#BTC Is now retesting its ascending triangle
The 4-hour closing price above the top of the triangle would be good (left image)
Ultimately, the daily closing is the most important for confirming the recent breakthrough (picture on the right)Bitcoin #encryption #Bitcoin https://t.co/jZGfijA4K0 pic.twitter.com/KZQZyA0HeK
— Rekt Capital (@rektcapital) August 14, 2021
Despite this, the mood on Saturday was still active, as multiple signals indicated that it might continue to rise.
Good time in Cardano
On altcoins, Cardano’s have The token continued to impress among the top 50 cryptocurrencies by market capitalization, rising 8% on the day to reach and exceed $2.20.
related: 8/13 Price analysis: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, SOL, LTC
After consolidating the support of US$2, ADA/USD then hit its highest level since mid-May, when it fell from its historical high of US$2.50 amidst the ocean of changes in Bitcoin.
Elsewhere, the main altcoins were flat, with the exception of XRP. Daily increase of 13% to 1.20 USD.
The overall market value of cryptocurrencies is $1.97 trillion.