Many people are excited when Bitcoins (BTC) finally reaches $50,000 again, are you one of them? Do share your thoughts at the comment section. So the question is - is BTC going higher high? If she is going higher high, that means definitely a breakout is likely to happen soon.
Let's take a look at the charts first. In D1 chart, you can see BTC has been closing above $46,000 range (last week, the price I did mentioned to look out for is at $46,000 and $44,000 area) and right now MA200 is at this range too. Additionally, MA20 seems to be closely supporting. Based on the current look, it seems like BTC is creating a build up (aka accumulation) so that it will be able to breakout $50,000.
BTC/USD chart D1 on 3 Sep 2021
Then in the lower timeframe H4, you can see there's a nice rejection at $48,000 range. So definitely the next price range to look out will be $48,000 and $46,000 whether you are buying or selling. For me, I'm more interested to see the bull run of BTC.
BTC/USD chart H4 on 3 Sep 2021
Also, I have combined a list of news which were released within the last 24 hours, related to BTC so you may read up on, if you are interested in them.
Chainalysis CEO: Bitcoin Could Go Past $100k This Year
Bitcoin rallies above $50,000, ‘in a battle for new all-time highs and potentially beyond’
Traders identify $51K as the key level for Bitcoin to overcome in the short term
Bitcoin Prices Trade Near $50,000 After Hitting Fresh, Multi-Month High
Twitter to allow users to add BTC and ETH addresses to profiles
Franklin Templeton, with over $1.4 Trillion in assets under management, posted an open position for a “Research Analyst - Crypto Currency” on LinkedIn
Market Analyst Sees Bitcoin Peaking At $100,000 By Year-End
Cryptocurrencies now recognized under commercial law in Texas
Last & not least, always remember that the market does not just follow just based on Technical Analysis only; sometime you need to take in consideration of the news :) However in the last 24 hours, it seems more positive news related to BTC. So maybe it's a breakout soon, haha, IDK man, feel free share your views with me ~
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** Disclaimer: This is not intended to be investment advice. Seek a duly licensed professional for investment advice **
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