TA: Bitcoin Rallies, Why BTC Could Register A Close Above $50K
Bitcoin price started a steady increase above the $48,000 resistance zone against the US Dollar. BTC is now trading above $49,500 and it could accelerate above $50,000. Bitcoin started a fresh increase above the $48,500 and $49,000 resistance levels. The price is now trading well above $49,000 and the 100 hourly simple moving average. There was a break above a crucial bearish trend line with resistance near $47,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate further higher once there is a close above the $50,000 zone. Bitcoin Price Breaks Key....
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Bear market rallies look to be playing out for both the S&P 500 Index and bitcoin. How high can the rally go? What do historical rallies look like?
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