Bitcoin Stands Around $50K - Bullish Patterns Start Appearing Again .

Bitcoin Stands Around $50K - Bullish Patterns Start Appearing Again .

2021-12-08 | Selina Mathew

Bitcoin Stands Around $50K - Bullish Patterns Start Appearing Again .

Bitcoin (BTC) held $50,000 as support up overnight into December 8 amid optimism that the 2021 bull market was not yet finished. The weekly silver lining for BTC Cointelegraph Markets Pro and TradingView data shows BTC/USD trying but failing to break past $50,000 after hitting a high of $51,990 on Bitstamp Tuesday. The pair had advanced at the start of the Wall Street trade, building to previous advances from Sunday to provide BTC with some short-term comfort. According to trader and analyst Rekt Capital, it was now time to consult longer periods to gain a fuller sense of Bitcoin market health. Rekt Capital examined the weekly chart in his most recent YouTube video to illustrate what looked to be a formerly long-term opposition level shifting to support. BTC


Substantial buyer interest in a price range of $43,000 added to the upbeat outlook. Furthermore, Fibonacci levels should play a role in Bitcoin's future move, according to the video, with Bitcoin presently trapped between two critical lines denoting current support and the $60,000 zone. Some people seem to believe in the end-of-year moonshot. Elsewhere, the outlook was bleak, with predictions for a mediocre finish to 2021 gaining traction. Meanwhile, other relationships rely on the final few weeks of the year, including Bitcoin vs 1970s gold and, of course, Bitcoin's own 2017 record.

Leave a comment

Your email address will not be published. Required fields are marked *

Top 7 cryptocurrency overview

Best trading tool for cryptocurrency

2022 Top cryptocurrency Price Prediction List