✨ C A N B U L L R U N A G A I N $ 5 0 K O V E R ?

This weighed heavily on the Bitcoin price, helping to pressure BTC back to the $38,000s last week from earlier monthly highs above $49,000.

Meanwhile, 10X Research analyst Marcus Thielen argued in a client note on Monday that new longs could enter above $43,000. Thielen cited Elliot Wave analysis, and that “wave 5” to new yearly highs above $50,000 has begun.

He added that fundamental catalysts such as subsiding GBTC sales, US stocks pushing to new record highs and Google allowing Bitcoin & Crypto ETF ads to commence from Monday could act as Bitcoin price tailwinds.

Bitcoin Price Catalysts to Watch This Week

The Bitcoin price is at an important crossroads given it is probing its 21 and 50DMAs.

A sustained break above here and the 50% Fibonacci retracement of the Bitcoin price’s recent pullback could confirm bullish momentum. That’s way down from the near 20K BTC token per day it was dumping in recent weeks.

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