Bitcoin (BTC) has been unable to break through $ 46,000 on the 12th due to resistance from “strong bullish divergence” in a short time.
High Arrow creeping on BTC / USD
BTC / USD was rejected after hitting a high of $ 46,280, according to data from Cointelegraph Markets Pro and TradingView.
The move continues to move within the weekend range, with Bitcoin not recovering from selling on the 10th.
$ 45,500 is a key level for Bitcoin on the 50-day MA and will continue to be supported on the 12th.
As trader and analyst Rekt Capital points out, the short hourly timeframe gained strength on the 12th, and the 4-hour chart showed “strong bullish divergence.” However, at the time of writing the article, there is no new level of support.
“Bitcoin hit a four-hour downside from September 8th to 10th,” Rekt Capital said, adding:
“But from September 10th to 12th, BTC formed a new high arrow on the 4-hour chart.”
Cointelegraph contributor analyst Michael van de Poppe also noted the price movement.
“Note that Bitcoin builds high arrows, after which we could head for $ 50,000.”
Polka dots leading the movement of altcoin
As previously reportedBitcoin prices have fallen to $ 38,000 at worst, and September is said to be a month of patience to sustain the uptrend.
Bitcoin’s dominance has fallen to nearly 40% over the weekend, which could have a positive impact on altcoin’s performance in the future.
On the 12th, major altcoins were already booming and Polkadot (DOT) was in the top 10 with a 10% profit in the last 24 hours.
Ethereum (ETH), the largest altcoin by market capitalization, was up 3.2% at $ 3,425, down 13% from last weekend’s position.
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