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BTC worth battles for $46Ok as Polkadot (DOT) ends weekend with 10% surge


Bitcoin (BTC) got into trouble at $ 46,000 on September 12 after a “strong bullish divergence” encountered resistance on lower time frames.

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

Higher lows are creeping in for BTC / USD

Data from Cointelegraph Markets Pro and TradingView showed BTC / USD declines sharply after hitting local highs of $ 46,280 on Bitstamp.

The move continues a wide weekend with the pair unable to recover from the Friday sell-off.

$ 45,500 is an important level for Bitcoin in terms of its 50-day moving average, a level that continued to be held as support on Sunday.

As trader and analyst Rekt Capital noted, lower time frames showed increasing strength that day, with a “strong bullish divergence” marking the 4-hour chart. At the time of writing, however, no new levels of support had been added.

“Bitcoin made a lower low in the 4-hour timeframe between September 8 and 10,” he summarized.

“However, over the course of September 10th and 12th, $ BTC made a new higher low in the 4-hour timeframe.”BTC / USD 1-day candlestick chart (Bitstamp) with 50-day moving average. Source: TradingView

Cointelegraph analyst Michaël van de Poppe was also looking for a taller, lower construction.

“If we look at a higher low to be constructed in Bitcoin, we are ready to go towards $ 50,000,” he said on Saturday.

Polkadot leads the altcoin moves on Sunday

As Cointelegraph reported, Bitcoin price is expected to plummet to $ 38,000 in the worst case scenario, with September being a brooding month as the bull run continues.

Related: Bull Flag Outbreak Drives Avalanche Towards $ 80 as AVAX Price Hits Another Record High

Bitcoin’s overall crypto market dominance continued to decline over the weekend, approaching 40%, which could prove to be a boon to altcoin performance.

There were already signs of life on Sunday of the Major Alts, with Polkadot (DOT) leading the top ten with 10% daily gains.

DOT / USD 1-day Kraken candlestick chart. Source: TradingView

The largest altcoin, Ether (ETH), rose 3.2% to $ 3,425, albeit still 13% from its position last weekend.

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