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Bitcoin price in line for `impulsive bounce` as Solana (SOL) leads altcoin surge

Last update 09.09.2021 11:59

Things are looking up for Bitcoin and altcoins on Thursday, but the chance of a breakdown remains, one analyst warns.

Bitcoin price in line for `impulsive bounce` as Solana (SOL) leads altcoin surge

Bitcoin (BTC) volatility is again overdue and one analyst is favoring an "impulsive" move towards $50,000.

Tüccar: Bitcoin koparması için "Sakin olun ve bekleyin"


Data from Cointelegraph Markets Pro and TradingView showed BTC/USD continuing to circle $46,000 on Sep. 9 as an eerie calm lingered over the market. 

Tuesday saw mass upheaval as a cascade of unwound positions sparked a huge $9,000 daily loss for Bitcoin, something analysts have since pinned on overleveraged traders.

While the event's lows of $42,800 have not been retested, a breakdown is not off the cards, popular trader Crypto Ed says.

"Looks like a bullish pennant to me...Impulsive bounce followed by consolidation," he summarized alongside an updated chart Wednesday.

With expectations thus skewed to the upside, fellow trader and analyst Rekt Capital eyed an ongoing retest of Bitcoin's 50-day exponential moving average (EMA) as a potential game-changer.

Source:cointelegraph.com

 

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All Data
Coin Change(%) Price Volume (24h)
Bitcoin (BTC) 3.71 $72,084.86 $45.5B
Ethereum (ETH) 3.43 $4,038.91 $20.8B
XRP (XRP) 18.52 $0.727106 $4.4B
Solana (SOL) 1.58 $147.242060 $3.8B
Binance Coin (BNB) -2.22 $519.52 $3.0B
USD Coin (USDC) 0.03 $0.999697 $2.4B
Dogecoin (DOGE) 0.96 $0.174374 $2.1B
Shiba Inu (SHIB) -2.92 $0.000033 $1.7B
Floki Inu (FLOKI) -7.67 $0.000267 $1.3B
Avalanche (AVAX) 13.16 $47.596296 $1.2B
All Data