Bitcoin (BTC) is below an important price target for a conciliatory weekly close on September 10th, which is why the experts warn that the market-leading cryptocurrency’s upward trend of several weeks is in jeopardy.
BTC needs $ 1,500
As data from Cointelegraph Markets Pro and TradingView show, BTC / USD is trading at just under $ 46,000 on Friday, having previously failed at the $ 47,450 mark.
In the weekly chart, this hurdle marks the lower end of the upward trend in Bitcoin, which has been in place since mid-July.
Now BTC / USD needs a jump back above this resistance in order to maintain the upward trend, as crypto expert Rekt Capital explains.
#BTC bounces from weekly support (blue)
However, it is still below the black Weekly Higher Low which represents a price of ~ $ 47400$ BTC needs to weekly close above the HL to retain the multi-week uptrend
– Rekt Capital (@rektcapital) September 10, 2021
However, since Bitcoin is currently 1,500 US dollars below this target, it needs a smaller upswing over the weekend so that a conciliatory end of the week can be achieved on Sunday evening and the upward trend is not torpedoed.
Tezos stronger than the rest
Meanwhile, there is a surprise with altcoins, because more and more crypto investors are suddenly investing in Tezos (XTZ).
After the project recently performed as strongly as other large altcoins, XTZ / USD has clearly set itself apart from the rest of the field on Friday with a gain of 24%. As a result, the previous winner of the day was able to climb to 6.53 US dollars, its highest level since mid-May.
Altcoin market leader Ether (ETH) was able to catapult itself up in direct comparison with BTC, which Cointelegraph expert Michaël van de Poppe interprets as a good sign for the runner-up.
“Get ready for a new high flight”, like this one after the upswing of ETH / BTC to a price of 0.071 forecast.