Cryptopolitan 2021-09-22 12:39:42

Bitcoin Price Analysis: BTC spikes below $41,000 again, swift move above $44,000 to follow?

TL;DR Breakdown Bitcoin price analysis is bullish for today.BTC/USD made another spike below $41,000 overnight.Further downside still rejected. Bitcoin price analysis is bullish for today as another spike below the $41,000 mark resulted in a strong rejection for further downside. Therefore, we expect BTC/USD to move high later today and return above the $44,000 mark next. Cryptocurrency heat map. Source: Coin360 The overall cryptocurrency market traded in the red over the last 24 hours. The market leader, Bitcoin, is down by 2.96 percent, while Ethereum has lost 4.76 percent. Meanwhile, Solana (SOL) continues to be among the worst performers, with a loss of 9 percent. Bitcoin price movement in the last 24 hours: Bitcoin spike below $41,000 gain BTC/USD traded in a range of $39,787.61 – $43,303.40, indicating large volatility over the last 24 hours. Meanwhile, the total market capitalization trades around $790.7 billion, resulting in the market dominance of 42.75, with a total trading volume of $43.57 billion. BTC/USD 4-hour chart: BTC looks to return above $44,000 next? On the 4-hour chart, we can see Bitcoin price action starting to turn bullish again after further downside was rejected. BTC/USD 4-hour chart. Source: TradingView Bitcoin price action has traded in a bearish momentum so far this month. After a strong spike lower on the 7th of September, support was found around the $44,000 mark. Above thew support, B...