Bitcoin Struggles Below $48.8k as Bitcoin Resumes Downward Correction – September 19, 2021
Today, BTC/USD traded as the market reached the excessive of $48,800 as Bitcoin resumes downward correction. The crypto confronted stiff resistance as the market dropped sharply to the low of $47,800. Bitcoin bulls failed to maintain the bullish momentum to the $50,000 excessive. Consequently, BTC’s worth dropped and recouped above the $47,800 assist. Buyers have reclaimed the $48,000 assist.
Resistance Levels: $50,000, $51,000, $52,000
Support Levels: $40,000, $39,000, $38,000
On September 18, patrons made a profitable rally and reached the excessive of $48,800. Bitcoin was confronted with stiff resistance at the current excessive. Long candlesticks wicks are pointing within the path of the resistance zone. The candlestick wicks point out that there is robust promoting strain at the current excessive. However, patrons resumed the second uptrend above the $47,800 assist. The second uptrend was short-lived as the crypto was repelled at the $48,400 excessive. BTC’s worth has resumed a downward transfer as it broke the earlier assist at $47,800. The present downtrend is possible to prolong to the low of $47,200. Nevertheless, if the assist at $47,200 holds, BTC/USD shall be range-bound between $47,200 and $48,800.
El Salvador Hosts the Third-Largest Network of Bitcoin ATMs
Following adopting Bitcoin as a authorized tender, the Salvadorian authorities has put in over 200 ATMs. El Salvador is now the third-largest community of crypto ATMs after the United States and Canada. El Salvador has exceeded United Kingdom’s crypto ATM rely after deploying 205 crypto ATMs.The ATMs is to facilitate native Bitcoin transactions and BTC to U.S. greenback conversions. Meanwhile, the Salvadorean authorities has partnered with an in-house cryptocurrency pockets supplier named Chivo to energy the BTC wallets and ATM utilization within the nation.
Meanwhile, Bitcoin faces rejection at the $48,800 resistance zone as Bitcoin resumes downward correction. With the rejection, the BTC worth has damaged under the 21-day SMA. The upward transfer is uncertain as Bitcoin falls under the 21-day SMA. There is an inclination for BTC costs to be range-bound between $47,200 and $48,800.
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