Market Update-
$BTC will Reache $49k any time.
The update highlights that #BTC is poised to make its highest weekly candle close since December 2021. If $BTC manages to close above this line, it suggests that #BULLS will be in complete charge of the market. This indicates a potential shift in momentum towards the #bullish side, which traders may consider in their decision-making process.
Based yesterday update:
The latest market update highlights another strong day for #BTC , with the old daily resistance at $47k now acting as support. $BTC is approaching a significant resistance level around $48.7k, which corresponds to the Fibonacci level from the all-time high to the bear market low.
Additionally, there's a developing sell wall this morning in the range of $48.7k to $49k, indicating potential resistance if tested. Traders are advised to observe the market's reaction at these levels.
In case of a retest of $47k, it's important to see this level hold to confirm a break of the April 2022 weekly resistance, potentially leading to the highest weekly close in more than 2 years. This suggests a critical juncture for Bitcoin's price action, and traders may adjust their strategies accordingly.