Bitcoin (BTC) hit problems at $46,000 am September. 12 after a “strong bullish divergence” on lower timeframes met with resistance.

BTC / USD 1-Stunden-Kerzendiagramm (Bitstamp). Quelle: TradingView

Higher lows creep in for BTC/USD

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reject sharply after hitting local highs of $46,280 auf Bitstamp.

The move continues a ranging weekend, over which the pair failed to recover from Friday’s sell-off.

$45,500 is an important level for Bitcoin in the form of its 50-day moving average, a level which on Sunday continued to hold as support.

As noted by trader and analyst Rekt Capital, lower timeframes showed increasing strength on the day, with a “strong bullish divergence” characterizing the 4-hour chart. Zum Zeitpunkt des Schreibens, jedoch, no new levels had entered as support.

“Bitcoin formed a Lower Low on the 4-hour timeframe during the days spanning the 8th and 10th of September,Fasste er zusammen.

“Over the course of the 10th and 12th of September however, $BTC formed a new Higher Low on the 4-hour timeframe.”

BTC / USD 1-Tages-Kerzendiagramm (Bitstamp) with 50-day moving average. Quelle: TradingView

Cointelegraph contributing analyst Michaël van de Poppe was also on the lookout for a higher low construction.

“Looking at a higher low to be constructed at Bitcoin and then we’re ready to go toward $50K,” he said Saturday.

Polkadot leads Sunday’s altcoin moves

Wie Cointelegraph berichtete, expectations include a Bitcoin price dip to as low as $38,000 schlimmstenfalls, with September poised to be a month of rumination for the bull run continues.

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Bitcoin’s overall crypto market dominance continued to fall at the weekend, nearing 40% in what could prove to be a boon for altcoin performance.

Signs of life were already present on major alts Sunday, mit Polkadot (PUNKT) leading the top ten with 10% daily gains.

DOT/USD 1-day candle chart (Krake). Quelle: TradingView

The largest altcoin, Äther (ETH), war auf 3.2% beim $3,425, albeit still down 13% compared to its position last weekend.