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Bitcoin (BTC) Price Analysis for September 4

source-logo  u.today 04 September 2023 19:30, UTC

Most of the coins keep in the red zone, according to CoinStats.


The price of Bitcoin (BTC) has declined by 0.06% since yesterday.

On the hourly chart, the price of Bitcoin (BTC) is looking bearish as it is on the way to testing the support level of $25,829. If nothing changes, traders are likely to see a blast to the $25,700 zone shortly.

A similar situation can be seen on the daily time frame. At the moment, one should focus on yesterday's low at $25,807.

If the candle closes with no long wick, the accumulated energy might be enough for a further drop to the $25,000-$25,500 area soon.

From the midterm point of view, it is too early to make any predictions as the bar is far from the closure yet. However, if the drop continues to the $25,000 zone, there is a high possibility of expecting a test of the support level of $24,756 within the next days.

Bitcoin is trading at $25,843 at press time.