{"id":9743,"date":"2021-09-12T22:07:25","date_gmt":"2021-09-12T21:07:25","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=9743"},"modified":"2021-09-12T22:07:36","modified_gmt":"2021-09-12T21:07:36","slug":"bitcoin-price-struggles-for-46k-as-polkadot-dot-posts-a-10-weekend-gain","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitcoin-price-struggles-for-46k-as-polkadot-dot-posts-a-10-weekend-gain\/","title":{"rendered":"Bitcoin: Price struggles for $46K as Polkadot (DOT) posts a 10% weekend gain"},"content":{"rendered":"\n
While Bitcoin markets are showing signs of strength, altcoins<\/a> are becoming more interesting as the weekend winds down.<\/h5>\n\n\n\n
\"Bitcoin:<\/figure>\n\n\n\n

Bitcoin\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> encountered resistance at $46,000 on Sept. 12 following a “strong bullish divergence” on lower timeframes.<\/p>\n\n\n\n
\"Bitcoin:

BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/figcaption><\/figure>\n\n\n\n

BTC\/USD is edging toward higher lows<\/h2>\n\n\n\n

BTC\/USD rejected significantly, according to data from Cointelegraph Markets Pro and TradingView, following a local high of $46,280 on Bitstamp.<\/p>\n\n\n\n

The move extends a range-bound weekend in which the pair failed to recoup Friday's sell-off.$45,500 is a critical level for Bitcoin since it represents its 50-day moving average, a level that held as support on Sunday.<\/p>\n\n\n\n

As reported by trader and analyst Rekt Capital<\/a>, lower timeframes demonstrated rising strength throughout the day, with the 4-hour chart exhibiting a “strong bullish divergence.” However, at the time of writing, no further levels had been added as support.<\/p>\n\n\n\n

\u201cBitcoin formed a Lower Low on the 4-hour timeframe between September 8th and 10th,\u201d he summarised.<\/p>\n\n\n\n

Over the course of the 10th and 12th of September however, $BTC formed a new Higher Low on the 4-hour timeframe.<\/p><\/blockquote>\n\n\n\n

\"Bitcoin:
BTC\/USD 1-day candle chart (Bitstamp) with 50-day moving average. Source: TradingView<\/figcaption><\/figure>\n\n\n\n

Michael van de Poppe, a contributing analyst to Cointelegraph, was also on the hunt for a higher low construction.<\/p>\n\n\n\n

\u201cWe're looking for a higher low to be established at Bitcoin<\/a>, and then we're prepared to move toward $50K,\u201d he stated Saturday.Polkadot is the top altcoin mover on Sunday.<\/p>\n\n\n\n

As Cointelegraph previously reported, estimates call for a Bitcoin price decline to as low as $38,000 at the most, with September set to be a month of reflection as the bull run continues.<\/p>\n\n\n\n

Bitcoin's total crypto market share continued to erode over the weekend, approaching 40%, which could bode well for altcoin performance.Sunday saw signs of life on key altcoins, with Polkadot<\/a> (DOT) leading the top ten with a 10% daily increase.<\/p>\n\n\n\n

\"Bitcoin:
DOT\/USD 1-day candle chart (Kraken). Source: TradingView<\/figcaption><\/figure>\n\n\n\n

Ether<\/a>, the largest altcoin, was up 3.2 percent to $3,425, albeit it was still down 13% from its position last weekend.<\/p>\n","protected":false},"excerpt":{"rendered":"

While Bitcoin markets are showing signs of strength, altcoins are becoming more interesting as the weekend winds down. Bitcoin encountered resistance at $46,000 on Sept. 12 following a “strong bullish divergence” on lower timeframes. BTC\/USD is edging toward higher lows BTC\/USD rejected significantly, according to data from Cointelegraph Markets Pro and TradingView, following a local […]<\/p>\n","protected":false},"author":13,"featured_media":9744,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[76,25],"tags":[1612,152,128],"class_list":["post-9743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-price","category-market-analysis","tag-altcoins","tag-bitcoin","tag-ethereum"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/image-116.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=9743"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9743\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/9744"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=9743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=9743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=9743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}