🚧 Bitcoin - will reach $48,000 after this resistance 🚧

6 Ağu 2021

Let's take a look at the older timeframes. On the daily timeframe, we can see that bitcoin rose quickly from the $30,000 mark to the upper consolidation boundary of $42,000. Attempted to break the upper consolidation level but failed as there is very strong resistance. After that, it corrected to 38,000$ and now it is trying to approach the resistance again.
Whether it will be able to break this resistance quickly, I don't know, but if the price continues to squeeze near the upper boundary, it will be a good buying opportunity. After breaking through the resistance, the price will come to $48,000 very quickly.
In addition to that, other factors are pointing out:
Massive withdrawal of bitcoins from exchanges (less supply - more demand)
The price has been in consolidation for three months
Number of new users updating the highs
Bitcoin is flowing from short-term holders to long-term holders.
10,000 BTC traded in footprint yesterday (very high volume)

What do you think, will the cycle continue and it will be $120,000, or will the price reach a maximum of $48,000k and then continue to fall?

6 Ağu 2021

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