Bitcoin (Bitcoin) After the “strong bullish divergence” in the lower time frame met resistance, it hit the $46,000 issue on September 12th.
BTC/USD lows move higher
Data from Cointelegraph Markets Pro with Transaction view After hitting a local high of US$46,280 on Bitstamp, BTC/USD fell sharply.
The move lasted for a weekend, and the currency pair failed to recover from Friday’s sell-off.
$45,500 is an important level of Bitcoin’s 50-day moving average, which continues to serve as support on Sunday.
As famous According to traders and analyst Rekt Capital, a lower time frame shows an increase in the intensity of the day, and “strong bullish divergence” is characteristic of the 4-hour chart. However, at the time of writing, there is no new level as support.
“Bitcoin formed a lower low in the 4 hours between September 8th and 10th,” he said Summarize.
“However, during the course of September 10 and 12, the BTC USD formed a new higher low within a 4-hour time frame.”
Cointelegraph special analyst Michaël van de Poppe is also looking for a higher low structure.
“Watching Bitcoin build a higher low, and then we are ready to move towards $50,000,” he said Said Saturday.
Polkadot leads Sunday’s altcoin trend
As Cointelegraph Report, The expectation includes that the price of Bitcoin fell to a low of $38,000 in the worst-case scenario, and September may be a month in which the bull market continues.
related: With the AVAX price hitting a new high, the bull market breakthrough pushes Avalanche to $80
Bitcoin’s overall crypto market dominance continued to decline over the weekend, close to 40%, which may prove to be a boon to the performance of altcoins.
On Sunday, the main alternative to Polkadot was showing signs of life (point) Leading the top ten with a daily increase of 10%.
The largest altcoin, Ether (Ethereum), which rose 3.2% to $3,425, although it was still down by 13% compared to last weekend’s position.