Is Bitcoin price on the verge to retest $50,000 this week – AMBCrypto

Although this setup has a bearish outlook after the breakout, BTC’s current position suggests that a retest of the upper trend line is plausible.

After a brief period of consolidation 10% to where it currently trades – $41,565.

A quick surge in buying pressure that pushes BTC above these two hurdles will propel it to $46,117, the next resistance barrier.

A macro bullish outlook will kick-start if Bitcoin price produces a weekly candlestick close above $52,000.

Santiment’s backtests have shown that a value below -10% indicates that short-term holders are selling at a loss and is typically where long-term holders tend to accumulate.

With a Master’s degree focused on Mass Communication, Manisha is good at multitasking with an eye for detail.

Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice.

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