After serval days the bitcoin price analysis appears bullish as it increases above the $56,000 mark.
Therefore we anticipate BTC/USD continue to increase. Bitcoin and Ethereum gained 2.56% and 0.54% respectively.
Bitcoin price in the last 24 hours
Over the last 24hours, BTC/USD traded in a range of $54,474.95 – $56,964.66. It has increased by 16% and totals $41.5 billion resulting in the market dominance of 45.78 percent.
BTC/USD 4-hour chart
According to the 4-hours chart, the bitcoin price action increased. This month the price action shows a strong performance after a long week of consolidation of $41,000 which was established.
On the 1st of October BTC/USD started pushing higher reaching the $56,000 mark. Over the weekend a newly found resistance was formed potentially indicating an upcoming reversal.BTC/USD has seen a slight resistance as support.
In conclusion,, Bitcoin price analysis is bullish as a strong increase above the previous resistance. So we anticipate BTC/USD continues.
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