Bitcoin price analysis is bearish today as we have seen the pivot turn into a sell at the $ 32,500 resistance. BTC / USD has already exceeded $ 31,000, which should lead to a further decline in the next 24 hours.
The market has been bearish in the last 24 hours. Leader Bitcoin lost 5.62%, Ethereum There are more than 5.6 percent. The remaining top altcoins lost even more.
Bitcoin price movements over the last 24 hours: Bitcoin ends integration with a surge
BTC / USD trades in the range of $ 30,376.32 to $ 32,176.48, showing strong volatility over the last 24 hours. Trading volume fell 13.03 percent to a total of $ 33.35 billion, with a market capitalization of approximately $ 579.6 billion, taking control of 46.1 percent.
BTC / USD 4-hour chart: BTC test $ 30,000
The 4-hour chart shows that strong selling pressure is still dominant. This shows that BTC / USD will fall further by the end of the day.
Bitcoin pricing behavior saw a fake breakout from the previous integration area at the end of last week. After briefly testing the $ 28,000 mark, BTC / USD rejected the downside and began to pivot higher.
On Monday, BTC saw a strong push to a major resistance of $ 31,000. After some integrations, it hit a new high of $ 32,500. This shows that the market is becoming more and more bullish.
Yesterday, further rises were clearly rejected and Bitcoin prices began to reverse. The push lower certainly continued at the beginning of today, with a rush below $ 31,000. Overall, given the pricing behavior seen in the last few hours, BTC should return to key support of $ 29,000 in the next few days.
Bitcoin Price Analysis: Conclusion
Bitcoin price analysis is bearish today as the market begins to fall rapidly in the morning. Therefore, the $ 30,000 mark is then broken and BTC / USD is expected to fall further by the weekend.