The price of bitcoin is calm at the moment and is consolidating above $ 47,000. It is currently impossible to estimate a further trend, and we need a break above $ 48,000 to continue on the bullish side or a pullback below $ 47,000 to continue on a bearish side down to the $ 45,000 support zone. The dollar index is also calm today, which is a sign for investors to wait for a more concrete shift on the chart. For bulls, it is important that the Bitcoin price finds support and makes a break above $ 48,000. After that, the space opens up to the previous high at $ 52,000. Before that, we come across a $ 50,000 psychological level, and here we can expect some consolidation or resistance. For the bearish option, we need continued negative consolidation and pullback prices down to support at $ 45,000. Additional potential support for us is the MA50 moving average at that level. The MA200 moving average is in the $ 42,000 zone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.