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Bitcoin Eyes $51K ‘Final Resistance’ As ETH Flirts With $4,000 – Cryptovibes.com – Daily Cryptocurrency and FX News

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


Bitcoin (BTC) has surpassed $50,900 on September 3 as a return above $50,000 puts the bulls firmly back on the scene. It now seems like it is all systems go for cracking the final hurdle located at $51,000 for Bitcoin and $4,000 for Ether as the weekend starts.

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

Data acquired from TradingView showed BTC/USD gaining strength after dropping to $48,300 overnight. A critical retest for the biggest crypto before it reversed upward. The bounce gave hope that $50K may now manage to cement itself as support.

If $50,000 becomes strong support and the resistance at $51,000 withers, there is a high possibility of an impulse move upward. One analyst predicted in a YouTube update:

“The moment that Bitcoin is breaking out of this $51,000 level, the chances are that we just get one vertical candle towards $58,000, or even $60,000.”

The analyst said that under this scenario, altcoins that have gained considerably this week might lose out massively against bitcoin. A look at the buy and sell levels on Binance exchange, in the meantime, highlighted the last remaining significant resistance level located around $51,000, with notable support already formed at $47,000.

BTC/USD buy and sell levels (Binance) as of Sept. 3. Source: Material Indicators/Twitter
BTC/USD buy and sell levels (Binance) as of Sept. 3. Source: Material Indicators/Twitter

Ether Creeping Toward $4,000

Ether stood out in the altcoin arena with an attack on $4,000 seeming imminent. That is a level that it has not reached since May 2021. The biggest altcoin gained another 5% today, putting it within $380 of historical all-time highs.

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

In the meantime, Solana (SOL) was the leader in the top 10 cryptos by market cap, gaining 20% on the day to trade above $140. The gains enabled SOL to supplant Dogecoin (DOGE) to become the seventh-biggest crypto.





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