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Bitcoin Price Analysis: Bitcoin $ 50,000 Failure, More Upward to Follow?

 تاریخ انتشار :
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  Bitcoin

TL; Fault DR

  • Bitcoin price analysis is bullish today.
  • BTC / USD breaks the major resistance of $ 50,000.
  • The price of Bitcoin will reach $ 51,500 in the future.

Bitcoin price analysis shows that the uptrend should be followed today because the cows finally reached the $ 50,000 mark overnight after a minor correction. Therefore, we expect BTC / USD to continue to grow today and reach $ 51,500 resistance in the future.

Bitcoin Price Analysis: Bitcoin $ 50,000 Failure, More Upward to Follow?  1
Encrypted currency heat map Source: Coin360

The cryptocurrency market traded upwards in the last 24 hours. Bitcoin, the market leader, rose 2.7 percent, eventually breaking the $ 50,000 mark, while Atrium rose 3.21 percent. Binance Coin (BNB) is among the best players today with an increase of more than 9%.

Bitcoin price movement in the last 24 hours: Bitcoin crossed the $ 50,000 mark

BTC / USD traded in the range of $ 48,199.94 – $ 50,482.08, which shows a slight fluctuation in the last 24 hours. Trading volume increased by 7.81% to $ 31.36 billion, while the total market capitalization was about $ 944.6 billion.

4-hour chart BTC / USD: BTC then targets $ 51,500?

In the 4-hour chart, we can see the price of Bitcoin move above the significant resistance of $ 50,000, which should rise later today.

Bitcoin Price Analysis: Bitcoin $ 50,000 Failure, More Upward to Follow?
4-hour chart BTC / USD. Source: TradingView

The price of bitcoin has risen dramatically over the past month. BTC / USD rose more than 40 percent to close at $ 42,000 after falling below the $ 29,500 support level.

From there, BTC returned $ 38,000 and raised another 30% to $ 48,000. Below the $ 48,000 resistance, the price of Bitcoin stabilized for a few weeks, while support was found above $ 44,000.

On Thursday, BTC / USD finally started to climb and reached the highest level of $ 48,000. After the price stabilized over the weekend, the price of Bitcoin started to rise again overnight.

This price increase has led to the failure of $ 50,000 in the past few hours. Therefore, we expect Bitcoin to continue later today, targeting $ 51,500 later.

Bitcoin Price Analysis: Conclusions

Bitcoin price analysis is bullish as the market rose above the $ 48,000 overnight support and eventually crossed the major $ 50,000 resistance. Therefore, we expect the BTC / USD to continue its uptrend today and continue its path to the previous highest level.

As you wait for more bitcoin to move, read our articles on the future of bitcoin, decentralized exchanges, and the NFT market.

Disclaimer. The information provided is not a commercial recommendation. Ramzifa.ir is not responsible for the investments made based on the information provided on this page. We strongly recommend independent research and / or consultation with a qualified professional before making an investment decision.