Leading cryptocurrency Bitcoin (BTC), He had long continued his slow and painful decline for weeks. Many continue to have a pessimistic view of the market due to these bearish movements and the fact that BTC has not made any bullish moves.
However, the rises in the last 24 hours have relieved the investors to some extent.
What’s the Latest Situation for Bitcoin?
It is observed that after the daily candle turned green in Bitcoin yesterday evening, bullish attacks came. When we look at the price, which has risen up to $ 49,000 today, in the 4-hour period, we see that an important resistance has been broken.
Breaking the falling trend in the 4-hour period, BTC is predicted to rise especially up to the red resistance. As such, some of the analysts are making statements such as “fasten your belts in BTC”.
While the last month’s performance of the Bitcoin price definitely suggests that the bears are back in the city, this week could be very critical in every way.
Especially the fact that BTC, which is holding on in the red support channel, does not break the bottom, but breaks the top of the trend by rising from here, showing that there is a bullish signal in the minor trend. If a weekly close above $49.000 can be achieved, we can say that things have turned positive in the big picture.
BTC, which gained more than 6 percent on a daily basis, also made the entire market turn green.
While Ethereum gave confidence to the investor by rising above $ 4000 again, AVAX, which attracted the most attention among the top 10 cryptocurrencies, was AVAX, which experienced a rise of 15%.
*Not investment advice.