Bitcoin (BTC) Price Analysis for September 4
09/05/2023 01:00
Has price of Bitcoin (BTC) found reversal zone yet?
Has price of Bitcoin (BTC) found reversal zone yet?
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Most of the coins keep in the red zone, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has declined by 0.06% since yesterday.
On the hourly chart, the price of Bitcoin (BTC) is looking bearish as it is on the way to testing the support level of $25,829. If nothing changes, traders are likely to see a blast to the $25,700 zone shortly.
A similar situation can be seen on the daily time frame. At the moment, one should focus on yesterday's low at $25,807.
If the candle closes with no long wick, the accumulated energy might be enough for a further drop to the $25,000-$25,500 area soon.
From the midterm point of view, it is too early to make any predictions as the bar is far from the closure yet. However, if the drop continues to the $25,000 zone, there is a high possibility of expecting a test of the support level of $24,756 within the next days.
Bitcoin is trading at $25,843 at press time.