Bitcoin’s ($BTC) price reclaimed $49K earlier today after falling to a new weekly low of $46,394. The top cryptocurrency managed to overcome the volatility caused by the largest exchange inflows in two years recording 1.68 million $BTC flowing to exchanges.
Source: TradingView
Bitcoin needs to close above $49,000 to mark a phenomenal weekly close. Analyst Rekt Capital noted that the top cryptocurrency needs to close above the resistance of $49,300 to set a new multi-month high. The top cryptocurrency had slid under $49,000 at the time of writing with the buy support currently looming at $48,800.
#BTC actually manages to revisit the red area following the successful retest of the previous breakout triangle
For $BTC to enjoy further upside, it would need to Daily Close above this immediate red resistance area#Crypto #Bitcoin https://t.co/4M1Xyz8BWJ pic.twitter.com/TIylQecFmX
— Rekt Capital (@rektcapital) August 27, 2021
Bitcoin price broke out of a multi-month long bearish phase wh
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