Bitcoin Consolidates above $40K, Why BTC Could Surge To $50K

Bitcoin price gained further momentum and traded to a new all-time high near $42,000 against the US Dollar. BTC is currently consolidating gains and it could surge towards $45K and $50K. Bitcoin is trading in a strong uptrend above the $36,000 and $40,000 support levels. The price is consolidating above $40,000, and it is well […]

Bitcoin Consolidates above $40K, Why BTC Could Surge To $50K

Bitcoin cost acquired further force and exchanged to another record-breaking high close $42,000 against the US Dollar. BTC is as of now merging increases and it could flood towards $45K and $50K. Bitcoin is exchanging a solid upswing over the $36,000 and $40,000 uphold levels. The cost is combining above $40,000, and it is well over the 100 straightforward moving normal (4-hours). There is a key contracting triangle framing with obstruction close $41,200 on the 4-hours outline of the BTC/USD pair (information feed from Kraken). The pair is probably going to proceed with higher towards the $44,000 and $45,000 levels in the close to term. Bitcoin Price Sets New ATH In the previous few days, there were extra gains in bitcoin cost over the $35,000 opposition against the US Dollar. The BTC/USD pair broke many significant obstacles close $36,000 and $38,000 to proceed with higher. It even flooded over the $40,000 level and settled well over the 100 basic moving normal (4-hours). Bitcoin exchanged to another unequaled high at $42,068 before it began combining gains. There was a minor decay underneath $41,000 level. The cost even tried the $40,000 level. In any case, the bulls had the option to ensure the 23.6% Fib retracement level of the new increment from the $29,995 swing low to $42,068 high.