Bitcoin has to stay above the crucial support to stay bullish

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Veröffentlicht am 07.09.2021

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has broken a critical resistance barrier that could increase its price by almost 13%. The central theses Bitcoin seems to have entered a very volatile phase. As long as the level of support of $ 51,000 to $ 50,500 is held, the market prospects for cryptocurrency remain optimistic. Another purchase pressure could press BTC to $ 57,200. Bitcoin has broken a critical resistance barrier that could increase by almost 13% despite the latest price fluctuations. Despite volatility, Bitcoin remains Bitcoin prices to over $ 52,000, but the upswing was only short-term because it lost 1,000 points within minutes. Data from BYBT shows ...

has broken a critical resistance barrier that could increase its price by almost 13%.

The central theses

Bitcoin seems to have entered a very volatile phase.
As long as the level of support of $ 51,000 to $ 50,500 is held, the market laughter remain optimistic for cryptocurrency.
Another purchase pressure could press BTC to $ 57,200.

Bitcoin has broken a critical resistance barrier that could increase by almost 13% despite the latest price fluctuations.

Bitcoin remains bullish despite volatility

The Bitcoin prices rose to over $ 52,000, but the upswing was only short-term because it lost 1,000 points within minutes.

Data from ByBT shows that Bitcoin-Long positions worth almost 20 million US dollar over a period of five hours. The losses were due to the unpredictable Bitcoin price campaign.

Bitcoin prices fell by 2.30%after they were traded at a maximum of $ 52,220. When Bitcoin fell to the level of support of $ 51,000, this led to a cascade of liquidations. Nevertheless, it seems that the prices are well positioned to continue to rise as long as this level of support keeps.

The 12-hour chart shows that Bitcoin broke out of an ascending triangle on September 5 after surviving a 17-day consolidation phase. The height of the y-axis of the technical pattern, which is added to the outbreak point, predicts an increase of almost 13% towards $ 57,200.

Bitcoin must be over $ 50,500. stay

In order for the bullish thesis to be confirmed, BTC must continue to be traded over the price range of $ 50,500 to $ 51,000. If you cannot stay above this decisive demand for demand, this could lead to considerable losses.

The Fibonacci retracement indicator, measured by Bitcoins all-time high of almost 65,000 USD in April to its low of $ 28,750 in June, a sign of where the courses could go next.

A violation of the underlying support could lead to a correction towards $ 46,830, while a An increase in sales pressure to this price level would probably develop into a more pessimistic outlook, since the next important support area at 42.500 lies.

Liability exclusion: fusion media she would like to remind you that the data contained on this website is not necessarily in real time or correct. All CFDs (stocks, indices, futures) and forex prices are not provided by stock exchanges, but by market makers. Therefore, the prices may not be precise and can deviate from the actual market price, which means that prices are indicative and are not suitable for trade purposes. Therefore, Fusion Media assumes no responsibility for trade losses that could result from the use of this data.

fusion media or someone who is involved in Fusion Media assumes no liability for losses or damage resulting from the trust in the information contained on this website including data, courses, diagrams and purchase/sales signals. Please inform yourself comprehensively about the risks and costs associated with trading on the financial markets, since it is one of the most risky forms of investment.

Bitcoin has to stay above the crucial support to stay bullish

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