{"id":29114,"date":"2024-09-09T08:20:40","date_gmt":"2024-09-09T08:20:40","guid":{"rendered":"https:\/\/zebpay.com\/in\/?p=29114"},"modified":"2024-09-09T08:20:41","modified_gmt":"2024-09-09T08:20:41","slug":"bitcoin-technical-analysis-report-9th-september-2024","status":"publish","type":"post","link":"https:\/\/zebpay.com\/in\/blog\/bitcoin-technical-analysis-report-9th-september-2024","title":{"rendered":"Bitcoin Technical Analysis Report | 9th September 2024"},"content":{"rendered":"\n

On September 6, Bitcoin broke below its key support range of $55,724 to $73,777, triggering a sharp decline to an intraday low of $49,000, last seen on August 5. The cryptocurrency market experienced a major downturn, with BTC plunging to a one-month low of approximately $53,000, fueling bearish sentiment across the market. This drop led to over $295 million in liquidations, within just 24 hours. Despite the pullback, Bitcoin has since managed to post modest gains, helping the global crypto market cap reclaim the $2 trillion level. <\/p>\n\n\n\n

At the time of writing BTC was trading at $55,042.<\/p>\n\n\n\n

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

BTC continues to trade in a \u2018Descending channel\u2019 pattern, where the upper downsloping line is acting as the resistance and the loewe downsloping line is the support. The lower longer shadows, around $52,000, indicate buying around these levels. Once BTC gives a breakout above the Descending channel pattern, then we may expect the prices to rally and cross the previous all time high of $73,777. The asset has a strong support zone from $52,000 to $48,00, whereas $56,000 & $62,500 will act as a strong resistance

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

Support 2<\/strong><\/td>Support 1<\/strong><\/td>Asset<\/strong><\/td><\/td>Resistance 1<\/strong><\/td>Resistance 2.<\/strong><\/td><\/tr>
$48,000<\/td>$52,000<\/td>BTC<\/strong><\/td><\/td>$56,000<\/td>$62,500<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

In the grand scheme of things, ZebPay blogs is here to provide you with crypto wisdom. Click on the button below and discover endless features on ZebPay!<\/p>\n\n\n\n

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

On September 6, Bitcoin broke below its key support range of $55,724 to $73,777, triggering a sharp decline to an intraday low of $49,000, last seen on August 5. The cryptocurrency market experienced a major downturn, with BTC plunging to a one-month low of approximately $53,000, fueling bearish sentiment across the market. This drop led […]<\/p>\n","protected":false},"author":1,"featured_media":29118,"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\/29114"}],"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=29114"}],"version-history":[{"count":1,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/29114\/revisions"}],"predecessor-version":[{"id":29120,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/29114\/revisions\/29120"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media\/29118"}],"wp:attachment":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media?parent=29114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/categories?post=29114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/tags?post=29114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}