Bitcoin Price Revisits $50K, Why BTC Could Start A Short-Term Correction

Bitcoin Price Revisits $50K, Why BTC Could Start A Short-Term Correction


Bitcoin price extended its rally above the $48,800 resistance. BTC tested $50,000 and is currently showing signs of a downside correction.

Bitcoin price climbed higher above the $48,500 and $48,800 resistance levels. The price is trading above $48,800 and the 100 hourly Simple moving average. There is a short-term rising channel forming with support at $49,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a downside correction below the $49,750 and $49,500 levels. Bitcoin Price Jumps 5%

Bitcoin price remained in a positive zone above the $48,000 resistance zone. BTC extended its rally and climbed above the $48,800 resistance zone. Finally, the price jumped above the $50,000 level.

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A new multi-week high was formed near

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