Bitcoin Price Prediction – September 10th
Bitcoin price prediction shows BTC is falling today as the king coin falls below $ 46,000 and heads towards $ 45,000.
BTC / USD Long-term trend: Ranging (daily chart)
Resistance Levels: $ 50,000, $ 52,000, $ 54,000
Support Levels: $ 42,000, $ 40,000, $ 38,000
BTCUSD – daily chart
BTC / USD is set to fall at a sharp 2.25% today as the cryptocurrency falls below the USD 46,000 support level and hits the daily low of USD 44,758. However, the daily chart shows that $ 46,000 is a very important area as it offered heavy resistance in the market during yesterday’s trading; Hence, it is expected to offer strong support for the future.
Bitcoin Price Prediction: Bitcoin (BTC) can fall sharply
Bitcoin price is now trading below the 9- and 21-day moving averages, with support provided by a rising support trendline on the channel; However, a break in this trendline could cause Bitcoin to relax to the $ 45,000 level. Meanwhile, the cryptocurrency is currently in a critical position with the next few days focused on the downtrend. Meanwhile, a dip below the channel’s lower bound could be detrimental for Bitcoin as it would lead the first digital asset towards the $ 42,000, $ 40,000 and $ 38,000 supports.
Additionally, if buyers can bounce off the current support level at $ 45,358, the initial resistance level could be at $ 46,500. However, any further upward movement could likely be followed by potential resistance at the $ 50,000, $ 52,000, and $ 54,000 levels. So if the coin can break here, the market may be on the verge of an uptrend. Currently, the Relative Strength Index (14) technical indicator is pointing south, indicating bearish signals.
BTC / USD medium-term trend: bearish (4H chart)
According to the 4-hour chart, BTC / USD has faced immense turmoil since today’s trading began, with sellers pushing its price to the lows of $ 44,521. If the bulls decide to push the market price back above the 9-day and 21-day moving averages, the coin could likely encounter resistance at $ 47,500 and above.
BTCUSD – 4 hour chart
However, it now appears that the cryptocurrency is in danger of experiencing another downtrend in the near future, as multiple attempts to break its USD 44,000 support suggest the bears are gaining momentum. As the Relative Strength Index (14) prepares to hit the oversold territory, the coin could find the critical support at $ 42,500 and below.
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