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  • Bitcoin Price Analysis: BTC climb from $ 46,500, going to break $ 50,000 over the weekend?

Bitcoin Price Analysis: BTC climb from $ 46,500, going to break $ 50,000 over the weekend?

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  Bitcoin

TL; Fault DR

  • Bitcoin price analysis is bullish for today.
  • BTC / USD has risen in the last 24 hours.
  • Bitcoin hit a record low of $ 46,500.

Bitcoin price analysis is bullish today as the market has reached its lowest level at around $ 46,500 and has since begun to climb to the key resistance of $ 50,000. So, we expect BTC / USD to cross the $ 50,000 mark later this weekend and look for our next target of $ 53,000 early next week.

Bitcoin Price Analysis: BTC climb from $ 46,500, going to break $ 50,000 over the weekend?  1
Encrypted currency heat map Source: Coin360

The cryptocurrency market has been in the green for the past 24 hours, with Bitcoin leading the way with 1.85%. Atrium has the best performance with 0.67% increase while Solana has the best performance with 13% increase.

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

BTC / USD traded in the range of $ 48,173.60 – $ 49,283.51, indicating low volatility in the last 24 hours. The total trading volume is $ 29.3 billion, down 9.96% from yesterday. Meanwhile, the total market capitalization is about $ 922.7 billion, which leads to a 43.83% dominance of the market.

4-hour chart BTC / USD: Is BTC going to break the next $ 50,000?

In the 4-hour chart, the price of Bitcoin is rapidly approaching the $ 50,000 mark, as cows have finally moved higher.

Bitcoin Price Analysis: BTC climb from $ 46,500, going to break $ 50,000 over the weekend?
4-hour chart BTC / USD. Source: TradingView

The price of Bitcoin has been trading with a strong uptrend over the past month. Of the major $ 29,500 volatility, BTC / USD has risen more than 70% to the current $ 50,400 volatility.

However, the cows were unable to raise the bitcoin to a higher level on Monday, resulting in a multi-day correction this week. Finally, support was found above $ 46,500 on Thursday, and was consolidated within 24 hours.

Yesterday, the price of Bitcoin started moving again, indicating that the new low has been set. Since then, BTC / USD has hit the $ 49,000 mark and the next $ 50,000 is targeted.

Overall, the current price move should climb today and the $ 53,000 as the next major should be recognized as the bullish resistance after the $ 50,000 breakout.

Bitcoin Price Analysis: Conclusions

Bitcoin price analysis is bullish as the market started to climb in the last 24 hours after reaching its lowest level of around $ 46,500 earlier this week. Therefore, we expect BTC / USD to advance further and seek to break the key resistance of $ 50,000 over the weekend.

As you wait for more bitcoin to move, read our articles on packaged 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.