Bitcoin (Bitcoin) A new local low was reached on August 31, as weak price movements further deviated from the bullish sentiment.
Bitcoin avoids bullish continuation
Data from Cointelegraph Markets Pro with Transaction view After falling by $2,000 within a few hours, BTC/USD reversed to $46,700 on Bitstamp.
As part of the multi-day range structure, the decline caused it to push up to $48,000, and the bulls were still unable to accumulate momentum to attack $50,000.
For the popular trader Crypto Ed, USD 48,200 is a level that continues to rise.
“Demonstrated some tricky moves and failed to retest overnight with that dump,” he Comment On the hour chart.
“Now I am busy printing the Bart pattern. The same point of view is still there: we are happy to take back the first horizontal line.”
Although the price trend lags behind any significant improvement in market activity, analyst sentiment remains generally optimistic that day.
Some highlight Conspicuous accumulation At the current level, on-chain indicators such as illiquid supply are also a topic.
William Clement, Chief Insight Analyst at Blockware, said: famous.
“In the next few months, we will go even higher.”
Ethereum on the move
On altcoins, Solana (Sol) And Polka (point) Is one of the top ten cryptocurrencies by market value.
related: 8/30 price analysis: BTC, ETH, ADA, BNB, XRP, DOGE, SOL, DOT, UNI, LUNA
SOL/USD continued to reach new highs, rising 19% on the day to around 120 US dollars, while DOT/USD rose 9.2%.
Ether (Ethereum) Is also on the rise, up 5% at the time of writing, Cointelegraph writer Michaël van de Poppe over $3,350 describe As a “bullish” market.
“Ethereum also bounced back from BTC’s support. It looks good,” he added.