Search Inside Bitcoins

Bitcoin (BTC/USD) Business Activity Pushes Past $50,000

Bitcoin Price Prediction – September 4
The BTC/USD business activity pushes past the line of $50,000 after a long featuring of price reversing movements below it in the recent past operations. As of writing, the crypto records a relative percentage increase rate of around 0.02, trading at about $50402. The present trading situation appears, responding more slightly positively to the upsides than the downsides.

BTC/USD Market
Key Levels:
Resistance levels: $52,500, $55,000, $57,500
Support levels: $45,000, $42,500, $40,000

BTC/USD – Daily Chart
The BTC/USD daily chart showcases that the crypto’s business activity pushes past the $50,000 trading level that some failing attempts made to push past recently. The slight uprise began on the last day of last month while a bullish candlestick emerged, leading to springing the trade further to the north. The lower bullish channel trend-line remains drawn alongside the smaller SMA indicator. The 50-day SMA trend-line is underneath the 14-day SMA trend-line. The Stochastic Oscillators have crossed northbound from around the range of 10 past a bit above range 40, still pointing to the upside direction.

Will the crypto market keep an upward trend as the BTC/USD business activity pushes past $50,000?

More often than none, there has been a line of price reverses around $50,000 in the recent past operations. But, the BTC/USD business activity pushes now past it. It established that the point earlier mentioned now becomes a support line that bulls expectantly have to push price northward further to stay afloat in the market. However, the 14-day SMA positions itself around $47,500 as its suggested support line to the current higher trading line of the market.

On the downside, it may be a bit difficult to observe a decent sell-off trading time of the market presently. Therefore, the BTC/USD market bears are to patiently await a major price rejection motion around a high trading line to be able to spot the probable time to consider a sell order. An aggressive price movement coupled with a quick reversal psyche is most required to give a nod to a sell position afterward.

BTC/USD 4-hour Chart

It is firmly depicted on the BTC/USD 4-hour chart that the crypto’s business activity pushes past the line of $50,000. All the SMA trend lines are closely around the lower bullish channel trend-line. The 14-day SMA indicator is near above the 50-day SMA indicator. About variant six smaller candlesticks feature a bit above the value mentioned earlier. The Stochastic Oscillators have protruded the line southbound near over the range of 20. It seems that the price is a bit slowing downward. There may be a line of low-active price movements soon.

Looking to buy or trade Bitcoin (BTC) now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provide

Read more:

Read next

Don't see the answer that you're looking for?

Ask us Now!

InsideBitcoins uses cookies to improve and customize your user experience. Learn more

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close