Bitcoin Exceeds The 50K Benchmark

BTC/USD still needs to break the resistance at $51,906 to keep up the current bullish momentum. Source: CryptoFxSchool

After a 37% increase over the last 28 days, the price of Bitcoin now trades between the weekly resistance level of $52,062 and the support level of $45,156. Given the explosive impact of this action, a withdrawal appears warranted. In addition, the forecast from the previous week mentioned a bearish price fractal, which suggests a possible liquidity event that would occur during the next two weeks.

Leave a Reply

Your email address will not be published. Required fields are marked *