TL;DR Breakdown Bitcoin price analysis is bearish for today.BTC/USD continued to decline overnight.BTC looks to set another higher low. Bitcoin price analysis indicates bearish price action momentum to follow today as BTC continued to retrace overnight. Therefore, we expect BTC/USD to decline further today and look to set a higher low next. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded in the red over the last 24 hours. The market leaders, Bitcoin and Ethereum, are down by 1.21 and 3.33 percent, respectively. Meanwhile, Cosmos (ATOM) is the best performer, with a gain of 6.25 percent. Bitcoin price movement in the last 24 hours: Bitcoin retraces from the $48,500 resistance BTC/USD traded in a range of $47,678.15 – $48,685.87, indicating low volatility over the last 24 hours. Trading volume has decreased by 6.67 percent and totals $27 billion, while the total market cap trades around $900.9 billion, resulting in the market dominance of 42.21 percent. BTC/USD 4-hour chart: BTC looks to set higher low today? On the 4-hour chart, we can see Bitcoin price continuing to decline as bears look to set a higher low. BTC/USD 4-hour chart. Source: TradingView Bitcoin price action has seen reversal back to bullish momentum this week. After swiftly dropping more than 15 percent on the 7th of September, support was finally found at around $44,000. What followed was a reaction and consolidation of around...
