Bitcoin (BTC)CryptocurrencyPrice Analysis

The Crypto Market Today – 12 September

After the bearishness that dominated the crypto space on Saturday, Bitcoin needs to overcome the $46,000 mark to support the broader market.

Bitcoin

Yesterday, BTC-USD gained 0.57% to partially reverse the 3.33% Friday plunges, ending the day near $45,107. However, unpredictable moves early on Saturday had BTC declining to $44,740 intraday lows before moving.

Nonetheless, the dominant cryptocurrency surged to $45,990 during afternoon sessions. That was after keeping away the critical support zone at $43,657. Meanwhile, the initial resistance at $46,546 prevented BTC’s upsurges, and the crypto eased to end its day near sub-$45,200.

BTC retains its short-term bullish outlook regardless of the recent $43,000 revisit. For bears’ control, BTC has to endure extended losses towards 62% Fibonacci of $27,237.

Other Cryptos

Most digital tokens saw bullish sentiments on Saturday. ADA led the gainers with a 10.6% surge as DOT (+7.34%) followed behind. Other altcoins that had considerable gains include BCH (+2.97%). LINK (+2.29%), LTC (+2.55%) and XRP (+2.14%). Moreover, BNB (+0.86%), ETH (+1.79%), and Crypto.com Coin (+1.61%) trailed the leaders.

Last week witnessed the crypto market value climbing to 2.438 Trillion on Tuesday before plummeting the same day to $1.835 Trillion. While writing this content, the overall market capitalization hovers around $2.083 Trillion. On the other hand, BTC’s dominance climber to 43.64% high on Tuesday and plunged to 39.92% on Friday. At this publication, BTC’s dominance stands at 40.76%.

Today Morning

While writing this article, BTC trades at $45,161 after losing 0.02% of its value. However, mixed early sessions saw the flagship token plunging to $45,138 before surging to $45,201. Keep in mind that the crypto failed to test its crucial resistance and support levels.

Elsewhere, the market recorded mixed reactions. BNB (-0.13%), BCH (-0.08%), ADA (-0.33%), and ETH (-0.13%) joined BTC with slight losses. Meanwhile, some top tokens saw bullishness early on Sunday. Polkadot led the way with its 1.25% upswing.

Bitcoin’s Day Ahead

Bitcoin needs upside momentum to overcome the pivot at $45,282 to test its initial resistance at $45,815. If the broad market supports this narrative, BTC will overpower the $45,500 price levels.

Meanwhile, the initial resistance at Saturday’s peak at $45,990 will prevent the upsurges if the broad market registers negative moves. However, an overall market rally will push Bitcoin towards the resistance at $47K before retracement may showcase. The 2nd resistance locates at $46,522.

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