The post Bitcoin Breakout Confirmed: Here’s When the BTC Price May Reach $50,000 appeared first on Coinpedia Fintech News
The recent upswing has raised the Bitcoin price slightly above the bearish influence as it crossed one of the important barriers. With this, the optimism around the token and the entire crypto market appears to have grown to some extent. As the price reached beyond $29,000 for the first time since mid-August, traders placed massive short bets. Hence, it is believed to be one of the biggest bullish indicators as the short positions fill up.
The BTC price in the past few days has been displaying huge bullish momentum, as it has been maintaining an ascending trend since the September lows. Although the volume has been consistent ever since the price faced its first plunge of the year in March 2023, the price has now risen beyond the pivotal technical levels. Hence, a bullish close for the week above these levels may trigger a notable upswing soon!
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