BTC entered a steady recovery momentum yesterday after holding off bears from pushing the price below the $47K mark. The benchmark cryptocurrency now challenges the $50K psychological juncture after snapping the $49.5K barrier (50 SMA) a few hours ago. While I cannot say for sure that the FUD bias is finally over, a break above the $51.4K level—where my descending trendline resisted—should negate the bearish bias and help the flagship cryptocurrency don a bullish bias. That said, we could see some sideways movements before BTC crosses $51.4K, given the drought of trading volume present.
Meanwhile, my resistance levels are at $50,000, $50,500, and $51,400, and my key support levels are at $48,500, $47,000, and $46,000.
Total Market Capitalization: $2.27 trillion
Bitcoin Market Capitalization: $938.7 trillion
Bitcoin Dominance: 41.2%
Market Rank: #1
Meanwhile, my resistance levels are at $50,000, $50,500, and $51,400, and my key support levels are at $48,500, $47,000, and $46,000.
Total Market Capitalization: $2.27 trillion
Bitcoin Market Capitalization: $938.7 trillion
Bitcoin Dominance: 41.2%
Market Rank: #1
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.