Main navigation

Bitcoin (BTC) Price Analysis for September 6

Tue, 09/06/2022 - 19:44
article image
Denys Serhiichuk
Has Bitcoin (BTC) accumulated enough energy for local bounceback?
Bitcoin (BTC) Price Analysis for September 6
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

Bulls are trying to return the lost initiative as most of the coins are in the green zone again.

Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) is almost unchanged since yesterday with growth of 0.25%.

BTC/USD chart by TradingView

On the local chart, Bitcoin (BTC) has made a false breakout of the formed support level at $16,675. If buyers can hold that mark until the end of the day, there are chances to see further growth to the $19,900-$20,000 zone.

BTC/USD chart by TradingView

On the bigger time frame, nothing crucial is happening as Bitcoin (BTC) keeps trading in the channel, accumulating power for a further sharp move. However, if bulls can return the rate to the important $20,000 mark, a bullish trend may start.

BTC/USD chart by TradingView

Analyzing the weekly chart, Bitcoin (BTC) remains above the support at $19,526. If buyers can hold this mark until the end of the week, one can expect continued growth to the mirror level at $20,800 in the second part of September.

Bitcoin is trading at $19,822 at press time.

article image
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 denys.serhiichuk@u.today.