Bitcoin Price Regains Strength, Will It Surge To $50K In A Short-term?

 2021-08-10 10:52:23

Bitcoin price started an increase above the $45,000 resistance zone since last night. Analysts on Bexplus think that BTC is likely to continue higher towards the $47,000 level in the near term.

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Bitcoin found support near $42,000 and it started a quick increase above $44,000. From the hourly chart, Bitcoin is still in an upward trend. In the strong rising market, short-term prices will continue to hit new highs. The short-term market broke through the $46,000 mark an hour ago and it is now trading around $45,500. If it can be supported at $45,500 in the later period within today, it is expected to continue to hit new highs in the later period.

 

If Bitcoin fails to climb above the $46,000 and $46,500 resistance levels, it could start a downside correction. Then the support on the downside could be near the $44,000 level.

 

Technical indicators:

Hourly MACD – The MACD is slowly losing pace in the bullish zone.

Hourly RSI – The RSI is now above the 50-level.

Major Support Levels – $45,000, followed by $44,650.

Major Resistance Levels – $46,500, $47,500 and $48,000.

 

DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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