Bitcoin Above $40K – Resistance at $45-50K?

Will we see Bitcoin break-through resistance and head towards $50-55K?

Bitcoin Returns Above $40K; Faces Resistance at $45K-$50K

“Bitcoin (BTC) is testing resistance near $40,000 after several breakout attempts over the past three months. The short-squeeze rally lost some momentum this week, although downside appears limited around the $34,000 to $36,000 support zone.

The next level of resistance is seen at the 200-day moving average near $45,000. A successful breakout would yield an initial upside target towards $50,000-$55,000.

Bitcoin was trading around $40,600 at press time and is up 6% over the past 24 hours.”


Master Asked on August 6, 2021 in Bitcoin.
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