skip to Main Content
bitcoin
Bitcoin (BTC) $ 95,895.69 1.23%
ethereum
Ethereum (ETH) $ 3,337.30 1.34%
tether
Tether (USDT) $ 0.999387 0.00%
xrp
XRP (XRP) $ 2.20 2.77%
bnb
BNB (BNB) $ 672.73 0.94%
solana
Solana (SOL) $ 183.61 1.62%
dogecoin
Dogecoin (DOGE) $ 0.314652 2.25%
usd-coin
USDC (USDC) $ 1.00 0.04%
staked-ether
Lido Staked Ether (STETH) $ 3,332.09 1.23%
cardano
Cardano (ADA) $ 0.895283 2.00%

BTC price slips under $46K but analysts are betting on new Bitcoin all-time highs

A dip below $46,000 has little impact on sentiment, with a longer-term view still favoring a showdown with $60,000 and above.

143 Total views

3 Total shares

BTC price slips under $46K but analysts are betting on new Bitcoin all-time highs

Bitcoin (BTC) saw lows of under $45,600 on Aug. 15 as a second instalment of its resistance rejection played out. 

BTC/USD 1-hour price chart (Bitstamp). Source: TradingView

Analysts eye BTC attack on all-time highs

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD giving up $46,000 overnight on Saturday after an earlier failed breakout. 

As Cointelegraph reported, bulls had run out of steam during an attack on a major sell wall holding Bitcoin back from $50,000.

The U-turn sparked a more fragile mood for Sunday, with daily losses sitting at 4% at the time of writing.

“This area is to me the major boss and hurdle to climb,” popular Twitter trader Pentoshi warned, adopting a bullish view on higher timeframes.

BTC/USD, he added, had almost completed preparation for a rematch of all-time highs in a zone above resistance at $50,000 and higher.

“I still believe for now it will be a Short term LH on the micro before we go for that upper range.”

Fellow trader, analyst and Cointelegraph contributor Michaël van de Poppe likewise hinted about a longer-term moment of reckoning potentially appearing soon.

“Bitcoin is inside the higher timeframe resistance,” he tweeted Saturday.

“Next week will be the important week, I think.”

Buy and sell levels on major exchange Binance showed the $48,000 sellers still firmly in place, with support amassing at $45,000 after the modest leg down.

BTC/USD buy and sell levels (Binance) as of Aug. 15. Source: Material Indicators/ Twitter

Cardano cools major rally

The Bitcoin had a conspicuous knock-on effect among major altcoins.

Related: XRP chart triggers sell-off warning after price explodes by 54% in one week

While many in the top-fifty cryptocurrencies by market cap either canceled out or saw weak 24-hour gains, the top five all lost in step with BTC.

Cardano’s ADA token, the standout along with XRP as the weekend began, came off multi-month highs to circle $2.10.

“Would I be buying Cardano here? No,” Van de Poppe cautioned prior to the dip.

“Do I expect Cardano to be gaining value in the coming months/years? Yes.”

Market participants continue to expect altcoin opportunities to increase in the coming months, with a focus on DeFi tokens in particular.

Loading data ...
Comparison
View chart compare
View table compare
Back To Top