BTC price falls back to $47K as weekly close neatly tracks Bitcoin futures gap

Bitcoin (BTC), which retested $47,000 on September 19, as the weekly close seemed to hinge on CME futures gaps, looked like it would.

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

Bitcoin comes full circle after erasing gains

Cointelegraph Markets Pro data and TradingView data showed mixed signals for BTC/USD at the end of the week.

Saturday saw a stronger rally by the pair. However, this was followed by a range behavior in an absence of clear direction.

Michael van de Poppe, a Cointelegraph contributor, explained that “Happens quite frequently in the markets.”

Bitcoin saw a slight rally on Saturday, but it will be back to CME close Sunday. CME closed Friday at $47,490. It seems that we will also open there later today.

This could seal what was a cautiously optimistic week by hodlers. Last week’s close came in at $46,000.

An examination of the buy and sell levels on Binance revealed that there was strong resistance at $49,000. This has increased in veracity over weekend. However, buy support was still at $44,000.

BTC/USD buy-and-sell levels (Binance) as at Sept. 19. Source: Material Indicators
Copycat moves by ltcoins into weekly close

Altcoins also had a disappointing day, with the top 10 cryptocurrencies mirroring Bitcoin’s 2.5% daily losses.

Related: Next Stop $85K Bitcoin, Analysts Predict ‘explosive Q4 for BTC Price Action

Ethereum’s ETH lost slightly, to $3,350 at time of writing — about 2% less than its position a week ago.

ETH/USD 1-day candle chart (Bitstamp). Source: TradingView

Cointelegraph reported that multiple tokens displayed bull flags during the week, including Solana (SOL).

https://cointelegraph.com/news/btc-price-falls-back-to-47k-as-weekly-close-neatly-tracks-bitcoin-futures-gap

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Donna Burk– Business News My Name is Donna Burk and I am also the main source from the ‘Dailynewssheet.com’ of all the exclusive and most delicate visualization of the activities in the business sector. My first step towards this journey was taken in the very early years of my life. I started with an independent financial consultant. However, I only had almost 4 years of skills and experience in this market. I have always been a free personality and like to fly one place to another, to explore more and more. Moreover, this passion and craze of traveling gave me a chance to report a section for best news associations. Last but not least, I am presently working full-time as an editor.

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