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Bitcoin Price Analysis: BTC continues to decline, ready to break below the $44,000 support?

Bitcoin Price Analysis: BTC continues to decline, ready to break below the $44,000 support?


Cryptopolitan
2021-08-19 12:49:00
Bitcoin Price Analysis: BTC continues to decline, ready to break below the $44,000 support?

TL;DR Breakdown Bitcoin price analysis indicates a bearish movement to follow.BTC/USD continued to set lower highs.BTC tests the $44,000 support. Bitcoin price analysis is bearish for the next 24 hours as a further decline was seen overnight and the $44,000 support currently gets tested. Therefore, we expect BTC/USD to break through the support and continue moving lower later this week. Cryptocurrency heat map. Source: Coin360 The overall market traded with mixed results, with the market leaders, Bitcoin and Ethereum losing around 1.6-1.8 percent. Cardano (ADA) is among the best performers, with a gain of more than 5 percent. Bitcoin price movement in the last 24 hours: Bitcoin tests the $44,000 support BTC/USD traded in a range of $43,998.32 – $45,952.06, indicating mild volatility over the last 24 hours. The trading volume totals $30.2 billion, down 13.72 percent, while the total market capitalization trades around $834.8 billion, resulting in market dominance of 44 percent. BTC/USD 4-hour chart: BTC targets $42,000 next? On the 4-hour chart, we can see the Bitcoin price action preparing to break below the $44,000 support, which should lead towards the $42,000 previous significant resistance next. BTC/USD 4-hour chart. Source: TradingView Bitcoin price has seen a substantial advance over the past month. After setting a new swing low around the $29,500 mark on the 20th of July, BTC/USD rallied more than 45 percent ...

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