Last night, #bitcoin surged, creating a significant green candle with a 2.52% price increase. This sharp move in Bitcoin also influenced the altcoin market, leading to a reversal in sentiment.
On The Daily Chart:
On the daily chart, Bitcoin's strong recovery broke through the short-term correction trendline, signaling a bullish breakout. Throughout this period, Bitcoin maintained stability above the $26,000 support level and gradually rose above the $26,500 resistance zone. Ultimately, the bulls succeeded in pushing the price above the $26,700 resistance. Currently, Bitcoin is gaining momentum above the $26,700 resistance and consolidating above $26,800. It is likely to continue its upward trend, potentially surpassing the $27,200 resistance and make a high of $27,308 before consolidating its gains. Currently BTC is trading near the $27,000 level.
On The 4-Hour Chart:
On the 4-hour chart, Bitcoin saw a strong bullish surge after breaking out of a triangle pattern. It reached a fresh high of $27,850 on September 27th before retracing to test the $26,000 support level. The price then surpassed the $26,850 resistance and formed a new high near $27,308. Currently, it finds support along a trendline and trades around $27,000. If BTC holds above $27,500, it could potentially reach $28,300 by September's end.
According to Coingabbar Price Analysis, the market capitalization of #BTC stands at $527,196,828,801. The 24-hour trading volume is approximately $15,995,705,823.
KEY LEVELS :
RESISTANCE LEVEL : $27,400-$27,700
SUPPORT LEVEL : $26,600-$26,100
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
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