Bitcoin price analysis
Bitcoin price movement in the last 24 hours: Bitcoin finds support at $38,000, reacts higher
BTC/USD traded in a range of $37,884.99 – $39,397.92, indicating substantial volatility over the last 24 hours. Trading volume has increased by 14.12 percent, totaling $35.1 billion, while the total market cap trades around $746 billion, resulting in a market dominance of 41.41 percent.
Bitcoin price action has seen reversal and more downside tested so far this week. After a strong high was set at $43,000 on 21 April 2022, BTC/USD dropped another 11 percent by the end of the last week.
Retracement followed on Monday, setting a lower high at $40,800. From there, BTC/USD quickly pivoted and started to decline again.
Next support at $38,000 was reached late yesterday, with immediate reaction higher seen this morning. So far, the Bitcoin price action has retraced to retest the $39,200 previous support as resistance, indicating that another lower high could be set there.
BTC/USD traded in a range of $37,884.99 – $39,397.92, indicating substantial volatility over the last 24 hours. Trading volume has increased by 14.12 percent, totaling $35.1 billion, while the total market cap trades around $746 billion, resulting in a market dominance of 41.41 percent.
Bitcoin price action has seen reversal and more downside tested so far this week. After a strong high was set at $43,000 on 21 April 2022, BTC/USD dropped another 11 percent by the end of the last week.
Retracement followed on Monday, setting a lower high at $40,800. From there, BTC/USD quickly pivoted and started to decline again.
Next support at $38,000 was reached late yesterday, with immediate reaction higher seen this morning. So far, the Bitcoin price action has retraced to retest the $39,200 previous support as resistance, indicating that another lower high could be set there.
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