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Bitcoin (BTC) Price Analysis for September 4

Mon, 09/04/2023 - 18:00
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Denys Serhiichuk
Has price of Bitcoin (BTC) found reversal zone yet?
Bitcoin (BTC) Price Analysis for September 4
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Most of the coins keep in the red zone, according to CoinStats.

Top coins by CoinStats


The price of Bitcoin (BTC) has declined by 0.06% since yesterday.

Image by TradingView

On the hourly chart, the price of Bitcoin (BTC) is looking bearish as it is on the way to testing the support level of $25,829. If nothing changes, traders are likely to see a blast to the $25,700 zone shortly.

Image by TradingView

A similar situation can be seen on the daily time frame. At the moment, one should focus on yesterday's low at $25,807.

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If the candle closes with no long wick, the accumulated energy might be enough for a further drop to the $25,000-$25,500 area soon.

Image by TradingView

From the midterm point of view, it is too early to make any predictions as the bar is far from the closure yet. However, if the drop continues to the $25,000 zone, there is a high possibility of expecting a test of the support level of $24,756 within the next days.

Bitcoin is trading at $25,843 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at