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Bitcoin Price Revisits $50K, Why BTC Could Start A Short-Term Correction
Bitcoin price remained in a positive zone above the $48,000 resistance zone. BTC extended its rally and climbed above the $48,800 resistance zone. Finally, the price jumped above the $50,000 level. A new multi-week high was formed near $50,339 and the price is now consolidating gains. There was a minor decline below the $50,000 level. The price is still above the 23.6% Fib retracement level of the recent rally from the $47,642 swing low to the $50,339 high. Bitcoin price is now trading above $48,800 and the 100 hourly Simple moving average. There is also a short-term rising channel forming with support at $49,750 on ... (full story)
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- Posted: Feb 12, 2024 10:30pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 257
