Bitcoin is up from Around $28,000 to Around $49,560 and is Heading towards the major resistance at $50,000
Bitcoin continues the upward movement for the 5th consecutive week since November, 2020
Market Sentiments and Analysis shows Bitcoin could break $50,000 resistance leading towards $56,000
Bitcoin, top 1 cryptocurrency continues to rally for the 5th week in a row, while bitcoin dominance decrease from 46.5% to hitting 43.1% in a span of 2 weeks which the price continues to increase. Meanwhile Bitcoin fear and greed index currently at 78 which represents ‘Extreme Greed’ as per the indicator.
Technical analysis shows Next bitcoin major resistance is $50,000- $51,000 then $55,000 – $56,000 And Next major support is at around $45,000-$44,500 then $40,000- $41,000. RSI is Hitting the Oversold area Currently at 69.78
Market reaction to Bitcoin Hitting $50,000 resistance is yet to be seen.