Bitcoin (BTC) struggled at $ 46,000 on September 12 after a “strong bullish divergence” on lower time frames met resistance.
Highest lows hit the BTC / USD pair
Data from Cointelegraph Markets Pro and TradingView showed a strong pushback for BTC / USD after hitting local highs of $ 46,280 on Bitstamp.
The move continues through a variable weekend, during which the pair was unable to recover from Friday’s selloff.
$ 45,500 is a significant level for Bitcoin in the form of its 50-day moving average, a level that continued to hold as support on Sunday.
What he pointed the trader and analyst Rekt Capital, shorter timeframes showed increasing strength on the day, with a “Strong bullish divergence” that characterizes the 4-hour chart. However, as of press time, no new levels had been reached as support.
“Bitcoin formed a lower low on the 4-hour time frame during the days spanning September 8-10,” summarized.
“However, over the course of September 10 and 12, USD / BTC formed a new higher low within 4 hours.”
Cointelegraph contributing analyst, Michaël van de Poppe, I was also looking for a lower build.
“Looking at a higher low to be built in Bitcoin and then we are ready to go towards $ 50,000,” said Saturday.
Polkadot leads the movements of altcoins this Sunday
As Cointelegraph reported, Expectations include a drop in the price of Bitcoin to as low as $ 38,000 in the worst case, cSeptember is set to be a month of brooding for the bull run to continue.
The overall dominance of the Bitcoin cryptocurrency market continued to decline over the weekend, approaching 40% in what could prove to be a boon for altcoins.
Signs of life were already present in major altcoins on Sunday, with Polkadot (DOT) leading the Top 10 with 10% daily earnings.
The largest altcoin, Ether (ETH), was up 3.2% to $ 3,425, although it was still down 13% compared to its price last weekend.
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