Bitcoin Price Reclaims $48K But Can Bulls Pump BTC To $50K?
Bitcoin price climbed higher above the $48,000 resistance. BTC tested $48,800 and is currently showing signs of a downside correction.
Bitcoin price climbed higher above the $46,500 and $48,000 resistance levels.
The price is trading above $47,500 and the 100 hourly Simple moving average.
There is a key bullish trend line forming with support at $48,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could continue to move up unless there is a close below the $48,000 support.
Bitcoin Price Turns Green
Bitcoin price started a major increase above the $45,500 resistance zone. BTC cleared a few hurdles near the $46,000 and $47,200 levels to move further into a positive zone.
The bulls gained strength and were able to pump the price above the $48,000 resistance. It tested the $48,800 zone. A new multi-week high was formed near $48,775 and the price is now consolidating gains. There was a minor decline below the $48,500 level.
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