![\"Chart](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/09\/Chart-1-Bitcoin-Sep-19.png\")
<\/p>\nThe Bitcoin (BTC) price saw a rapid surge yesterday, September 18, which took it past the resistance at $26.8k, which kept it from progressing for some time. The coin reached the height of $27k and breached it without much trouble.<\/p>\n
It then reached its monthly high by climbing to $27,400, after which it was briefly rejected to $27.2k. This minor support stopped the coin from falling, allowing it to bounce back to $27,332. However, it lost momentum and dropped back to the mentioned support.<\/p>\n
As traders started selling, BTC price eventually broke the support, seeing a sharp drop that took it down to $26,720 later on the same day. Since then, BTC has fluctuated between a support at $26,700 and a resistance at $26,900. These levels are still holding it from moving further up or down even at the time of writing, as right now, Bitcoin is at $26,846.<\/p>\n
The sharp increase in sales has also led to a 97% increase in volume compared to 24 hours ago.<\/p>\n
Analysts have proposed different ideas about what will happen next by analyzing the coin’s chart and other indicators. One expert suggested that the coin forms a descending triangle in the daily time frame, a bearish pattern. However, they also suggested that Bitcoin try another test of the upper trendline and even deviate above it before the price starts falling.<\/p>\n
<\/p>\n
As a result, there could be some opportunities for short-term traders.<\/p>\n
Another analyst remarked that the coin successfully retested above the descending triangle with a decent volume. It is currently retesting above the Ichimoku cloud, and an effective retest would confirm the continuation of the bullish move. In other words, there is still a chance that the bull run could continue, but much depends on what BTC will do soon.<\/p>\n
![\"Chart](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/09\/Chart-2-Bitcoin-Sep-19.png\")
<\/p>\n
While traders keep an eye on the charts, crypto whales seem to be making their move on Bitcoin in the background.<\/p>\n
According to recent data by Santiment, the whales have tightened their grip on the crypto as small traders started giving in to the fear and selling the coin.<\/p>\n
The analytics company noted that address activity has skyrocketed to year highs, especially with the halving scheduled to happen next year.<\/p>\n
New reports say that increasing daily active addresses without significant price action as a catalyst for such behavior could indicate that large holders are accumulating BTC through OTC.<\/p>\n
Historically, Bitcoin’s market dominance has typically been above 50%, meaning that Bitcoin held more than half of all the money in crypto.<\/p>\n
However, the supremacy dropped over the last two years, finding itself between 39% and 49% for the most part. However, after BlackRock moved to file for a Bitcoin ETF<\/a> in June of this year, the dominance returned to 52%.<\/p>\n Some analysts say that Bitcoin could go beyond that, reaching former levels. While this might be good news for the coin, it doesn’t benefit altcoins, including Ethereum.<\/p>\n Bitcoin BSC (BTCBSC)<\/a>, a new BEP-20 token that started its presale about ten days ago, has reached several significant milestones. Most recently, the project hit a $3 million mark in the amount it raised.<\/p>\n The presale will only last until the soft cap of $3.96 million is reached, and at this rate, this might happen in only a day or two. As a result, anyone seeking to join the presale<\/a> and acquire Bitcoin — the way it was in 2011 when its price was only $1 — should act quickly.<\/p>\nBitcoin BSC Presale Hits $3 Million, Less than $1M to Go<\/h2>\n