Bitcoin (Bitcoin) Fell below the key weekly closing target on September 10 because analysis warned that its multi-week uptrend was in danger.
BTC price is below the critical level of $1,500
Data from Cointelegraph Markets Pro with Transaction view After refusing to approach US$47,450 the day before, the trading price of BTC/USD on Friday was about US$46,000.
This level marks the lower limit of Bitcoin’s upward trend on the weekly chart and has continued since mid-July.
Trader and analyst Rekt Capital stated that BTC/USD now needs to withdraw it to maintain this trend.
#BTC Bounce from weekly support (blue)
However, it is still below the weekly high for black, which represents a price of $47,400Bitcoin Need to close above HL every week to retain the multi-week upward trend
Currently, BTC is about $1,000 lower than the high point#encryption #Bitcoin https://t.co/kbhDbtZkno pic.twitter.com/KBZCCK3SAk
— Rekt Capital (@rektcapital) September 10, 2021
At the time of writing, as Bitcoin is close to below the higher low target of $1,500, there is still a lot of work to be done over the weekend to ensure that the market closes more bullishly before the end of Sunday.
Tezos is better than others
On altcoins, as investors mysteriously flooded into Tezos (XTZ).
related: As demand weakened and natural gas prices soared, NFT sales and reserve prices plummeted
After being consistent with the standard trend of most major altcoins, XTZ/USD suddenly began to break through, rising 24% that day, becoming the best performing cryptocurrency. The currency pair touched $6.53, the highest level since mid-May.
Event coincides Increase Music star Doja Cat is interested in Tezos’ non-fungible token (NFT), whose blockchain processes 400,000 transactions per day the first time this week.
At the same time, the largest altcoin ether (Ethereum) Bounced back to the established support for BTC, which made Cointelegraph writer Michaël van de Poppe excited.
“Looking forward to new highs,” he forecast After ETH/BTC reversed to 0.071.