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Bitcoin holds support, approaching $50K resistance

RusefSandi

New member
Bitcoin (BTC) is holding support above $42,000 and could face resistance near $50,000 as short-term momentum behind the short-squeeze rally fades. The cryptocurrency was trading around $47,400 at press time and is up 3% over the past 24 hours.

The short-term uptrend remains intact despite several overbought pullbacks that were resolved to the upside. remains in breakout mode after rallying past $42,000, which marked the completion of a two-month consolidation phase.
 
 

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