Bitcoin (BTC) bit its teeth at the $ 46,000 mark on the evening of September 12th after a “strong bullish divergence” had been thwarted.
Higher low for Bitcoin
As the data from Cointelegraph Markets Pro and TradingView show, BTC / USD went down again after jumping to a daily high of $ 46,280.
This means that the crypto currency will continue its general sideways movement over the weekend and will not be able to make up the losses from Friday.
After all, the US $ 45,500 mark, at which the moving average of the last 50 days (50-day MA) has emerged, continues to be a solid support.
The crypto expert Rekt Capital mention, thatthat the 4-hour chart shows a “strong bullish divergence”, which at the time of going to press has not produced a new upswing.
“Bitcoin made a lower low in the 4-hour charts from September 8th and 10th,” as he said in this context explained. And further:
“However, on the 10th and 12th of September, the 4-hour diagram shows a new, higher low.”
Overall, the trend seems to be slowly going up again.
His colleague, the Cointelegraph expert Michaël van de Poppe, also called for such a higher low on Saturday.
“I’ll wait and see if there is a higher low, if it does, then I trust Bitcoin to make the jump to US $ 50,000,” said van de Poppe on Saturday.
Polkadot leads altcoins
As Cointelegraph had reported, the experts expect in the worst case a downturn to 38,000 US dollars in the next few weeks. In October at the latest, the upward trend should be back.
In view of the current weakness, however, Bitcoin is losing market dominance, because recently almost only 40% are on the table.
Meanwhile, the Altcoins are performing well, with Polkadot (DOT) leading the top 10 on Sunday with a plus of 10%.
Altcoin market leader Ether (ETH) climbed 3.2% to a price of 3,425 US dollars, nonetheless a decrease of 13% compared to the previous week.