Why Bitcoin Price Could Rally To New ATH Above $50K

Why Bitcoin Price Could Rally To New ATH Above $50K

Bitcoin price remained in a bullish zone above the $45,000 support against the US Dollar. BTC is eyeing a fresh rally above the $48,000 and $50,000 resistance levels in the near term.

  • Bitcoin climbed above the $48,000 resistance, but it struggled to continue higher towards $50,000.
  • The price is trading nicely above the $45,000 level and the 100 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $46,000 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start a strong rally if it manages to clear the $48,000 and $48,500 resistance levels.

Bitcoin Price is Eyeing More Upsides

This past week, bitcoin price made an attempt to test the $50,000 level against the US Dollar. The BTC/USD pair broke the $48,000 resistance, but there was a lack in momentum.

A new all-time high was formed near $48,700 before the price started a downside correction. There was a break below the $47,000 support. The price traded below the 23.6% Fib retracement level of the upward move from the $43,773 swing low to $48,700 high.

Read the full article at newsbtc.com

Get involved!


No comments yet

DISCLAIMER: All banners and links here are advertisements only. We do not endorse or vouch for any advertisers. Some programs may be illegal depending on your country's laws. Paying status and others status is just for our monitor. We don't give practice, all investments decisions are up to you.

Please bear in mind that all HYIPs and Autosurfs investments presuppose high risks.You've been warned about the hazards .We don't incur a liability for the money you may lose on any site listing here. We don't recommend you spend what you cannot afford to lose.