Sirwin
Sirwin

Bitcoins (BTC) finally reaches $50,000 again, does that means breakout soon?

By Kate S | Adventures To The Moon | 3 Sep 2021


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. 

D1 BTC Chart 3 Sept 2021

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 H4 3 Sept 2021

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

El Salvador’s Legislative Assembly Green Lights The $150 Million Bitcoin Trust -Bitcoin To Be Used As Legal Tender

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 ~

If you liked this article, please support me by following me here and on Medium, leave me a like, a tip, or use one of my referral links below👇
Thank you :) 

** Disclaimer: This is not intended to be investment advice. Seek a duly licensed professional for investment advice **

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Kate S
Kate S

I am a crypto, finance, and technology enthusiast. Spend my free time trading, fixing bugs, enhancing apps for my clients. Do check me out on https://katesoon.medium.com too & also @wienterd & @thelunarmagic on IG if you want to share some cute stuff :)


Adventures To The Moon
Adventures To The Moon

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