{"id":29009,"date":"2024-09-02T09:07:04","date_gmt":"2024-09-02T09:07:04","guid":{"rendered":"https:\/\/zebpay.com\/in\/?p=29009"},"modified":"2024-09-02T09:07:22","modified_gmt":"2024-09-02T09:07:22","slug":"bitcoin-technical-analysis-report-2nd-september-2024","status":"publish","type":"post","link":"https:\/\/zebpay.com\/in\/blog\/bitcoin-technical-analysis-report-2nd-september-2024","title":{"rendered":"Bitcoin Technical Analysis Report | 2nd September 2024"},"content":{"rendered":"\n

The price has been struggling under heavy selling pressure and is on track for a weekly decline of over 9%. Bitcoin has consistently formed lower highs over the past few months, signalling a bearish trend. This puts the burden on the bulls to defend key support levels. <\/p>\n\n\n\n

Meanwhile, markets are anticipating a major catalyst with a potential rate cut by the U.S. Federal Reserve in September.<\/p>\n\n\n\n

At the time of writing BTC was trading at $57,702.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

BITCOIN, over the past three weeks continues to trade sideways in a broad range from $56,000 to $65,000 with low volumes. On the weekly chart, we can see that the asset is trying to make a \u2018Bullish Flag\u2019 pattern. BTC has also struggled to sustain and give a weekly closing above the $70k mark. To witness a rally, it needs to give a breakout above the pattern with good volumes and the prices have to sustain above $70,000. The asset has a strong resistance at $66,500 whereas $56,000 and $52,500 will act as a strong support.<\/p>\n\n\n\n

Key Levels:<\/strong><\/p>\n\n\n\n

Support 1<\/strong><\/th>Support 2<\/strong><\/th>Asset<\/strong><\/th>Resistance 1<\/strong><\/th>Resistance 2<\/strong><\/th><\/tr>
$52,500<\/th>$56,000<\/th>BTC<\/strong><\/th>$66,500<\/th>$73,777<\/th><\/tr><\/thead><\/table><\/figure>\n\n\n\n

Keep yourself ahead of the crypto curve with ZebPay blogs. Click on the button below and see why millions trust ZebPay with their trading needs!<\/p>\n\n\n\n

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TRADE NOW<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The price has been struggling under heavy selling pressure and is on track for a weekly decline of over 9%. Bitcoin has consistently formed lower highs over the past few months, signalling a bearish trend. This puts the burden on the bulls to defend key support levels.  Meanwhile, markets are anticipating a major catalyst with […]<\/p>\n","protected":false},"author":1,"featured_media":29011,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[26],"tags":[310,16],"acf":[],"_links":{"self":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/29009"}],"collection":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/comments?post=29009"}],"version-history":[{"count":1,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/29009\/revisions"}],"predecessor-version":[{"id":29013,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/29009\/revisions\/29013"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media\/29011"}],"wp:attachment":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media?parent=29009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/categories?post=29009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/tags?post=29009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}