Bitcoin price managed to break the $48,000 resistance level and continues to move towards the next level of $50,000. What levels should investors pay attention to for Bitcoin, which is $ 49,500 at the time of writing?
Bitcoin, the biggest member of the cryptocurrency world, managed to break the $48,000 resistance level this Monday, making its investors happy. Currently, Bitcoin, with a total value of $ 931 billion, is trading at $ 49,500. This rise in Bitcoin was positively reflected in the crypto money world.
Bitcoin, which could not react very quickly to the declines of $ 40,000 in September, from time to time “the bubble burst?” Although he witnessed such questions, he quickly managed to get rid of very hard movements down. The fact that Bitcoin surpassed the $ 48,000 level was interpreted as a positive signal by many crypto analysts, and it was commented that the uptrend could begin.
Cryptocurrency analyst Lark Davis:
“Bitcoin broke the resistance at $48,400 and is now heading towards the next barriers at $50,000 and $51,000. If we can close a daily candle (preferably weekly) above $51,000, this represents a breakout of the broader downtrend. In this scenario, new highs may soon be seen.”
As the analyst stated, if BTC exceeds the $51,000 level, it is possible that the uptrend will start, as investors will be more comfortable both technically and psychologically. Although Bitcoin reached the levels of $ 65,000 in the spring, it was stuck in the barriers of $ 30,000-40,000 with a very sharp decline. BTC, whose downtrends are expected frequently, did not pay attention to these news and managed to recover itself.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.