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BTC price struggles for $ 46,000 as Polkadot (DOT) ends weekend up 10%

Bitcoin (BTC) struggled at $ 46,000 on September 12 after a “strong bullish divergence” on lower time frames met resistance.

BTC / USD (Bitstamp) 1-hour candlestick chart. Source: TradingView

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.”

BTC / USD (Bitstamp) 1-day candlestick chart with the 50-day moving average. Source: TradingView

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.

DOT / USD (Kraken) 1-day candlestick chart. Source: TradingView

The largest altcoin, Ether (ETH), was up 3.2% to $ 3,425, although it was still down 13% compared to its price last weekend.

Keep reading:

  • Here are the BTC price levels to watch out for: $ 38,000 appears as the ‘line in the sand’ for bulls
  • Price Analysis 9/10: BTC, ETH, ADA, BNB, XRP, SOL, DOGE, DOT, LUNA, UNI
  • Bitcoin price risks losing its weekly uptrend as an NFT release causes Tezos to hit 3-month highs
  • 3 reasons why Polkadot could be the next altcoin to hit a new all-time high
  • Will Polkadot Save Decentralized Finance From Ethereum Scaling Problems?
  • Stake Technologies Raises $ 10 Million to Develop DApps Ecosystem for Polkadot and Kusama
  • The analyst who was right with the fall of Bitcoin points out 4 cryptocurrencies that you should not buy because they could fall more than 40%

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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