Bitcoin
BTC$23 195.66

-1.29%

Ethereum
ETH$1 649.37

-2.09%

Tether
USDT$1.000217

0.01%

Binance Coin
BNB$328.36

-0.90%

USD Coin
USDC$0.999942

-0.01%

XRP
XRP$0.404201

-2.02%

Bitcoin steals $47K from bears as critical BTC price resistance crumbles


15 Sep 2021

#Bitcoin

Sellers are now lying in wait above $49,000 as bulls avoid another tumble towards support at $43,000. Bitcoin (BTC) tentatively reclaimed $47,000 on Sept. 15 in a move which analysts believe should open up the path to $50,000. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD holding the $47,000 mark Wednesday, this being crucial to flip for bullish continuation.

The level had seen fierce defense by whales the day before, but bulls ultimately won the upper hand, lifting Bitcoin out of a multi-day descending channel. Even a dip towards $46,000 failed to materialize, reinforcing the more optimistic case for short-term BTC price action.

The relative strength follows a golden cross event on BTC/USD, amid record low exchange balances and an implied supply squeeze. This was all the more apparent from the daily chart, which as popular trader Pentoshi noted produced a "bullish engulfing" candle which wiped out six days of sideways action.

"Back above the 200DMA, now facing a bit of resistance at Monday's high/September's Monthly open ($47K-$47,150)," analyst William Clemente added. "If those levels are indeed broken, could see a pretty swift move up to August's high at $50.5K."

Support echoes minimum monthly close predictions

A look at the buy and sell levels on major exchange Binance confirmed that resistance now lay higher up at just above $49,000, with clear support likewise several thousand dollars below spot price. Support lines up with existing predictions for the minimum monthly close in September, this being $43,000. October, by contrast, demands a minimum $63,000 monthly close, close to a new all-time high for Bitcoin.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 62.4% 76 $23 195.66 -1.29% -1.50% $447 262 989 624 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 69.2% 57 $1 649.37 -2.09% 2.18% $201 839 732 133 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 91.2% 1 $1.000217 0.01% 0% $68 079 422 781 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 79.6% 38 $328.36 -0.90% 4.32% $51 848 565 385 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 93.2% 1 $0.999942 -0.01% -0.03% $41 988 565 849 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 74.8% 42 $0.404201 -2.02% -1.97% $20 533 036 252 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 91.6% 1 $0.999723 -0.07% -0.02% $16 253 765 776 BUSD 7 days price change
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10 Polygon (MATIC) MATIC Polygon predictions 68% 67 $1.21 -2.86% 1.52% $10 591 629 612 MATIC 7 days price change
11 Lido stETH (STETH) STETH Lido stETH predictions 92.4% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
12 Solana (SOL) SOL Solana predictions 56.8% 86 $23.67 -4.58% -3.57% $8 819 921 992 SOL 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 67.6% 73 $0.000014 1.35% 19.81% $7 914 712 336 SHIB 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 67.2% 66 $6.70 -4.41% 1.44% $7 726 491 964 DOT 7 days price change
15 HEX (HEX) HEX HEX predictions 70% 60 $0.041030 -11.76% 52.80% $7 114 999 412 HEX 7 days price change

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