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Kyung Sauceda TT03

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Kyung Sauceda TT03

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Bitcoin faced rejection at the $50,000 level and is currently trading below it. Significant selling pressure is observed at the $50,000 level. We anticipate a test of the local support area before the next significant move.

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GALA analysis: The price had bounced back from the support area and tested the resistance area. However, GALA encountered significant selling at the resistance area which caused it to reject from there. It is predicted that there might be another test of the resistance area and we should wait and see if the price can break above it. It is recommended to wait for some time for new entries. Resistance Area: $0.0246-$0.0253

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🍾 Bitcoin is breaking through the trend line that was stopping bulls from turning beast mode through the whole 2023. We are above it now. The last parts of the bears' presence on the chart are being cleaned!

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Bitcoin has recently experienced a significant surge in price and has reached the $50,000 level. Currently, the price is trading near this key psychological level. If Bitcoin is able to sustain this level, then we may see positive momentum in the entire cryptocurrency market. However, if there is a rejection at this level, the price may fall towards the local support zone of $46,700-$47,200.

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#opinion 🧐 Arthur Hayes thinks Bitcoin will update its historical high this year! (Crypto Banter) Forecast: $70,000 by the end of 2024. He also mentioned the possibility of a new banking crisis and the inclusion of the #Fed printing press.

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