Bitcoin price is up by another 6% today, as the cryptocurrency finally reclaims $50,000. Earlier today the cryptocurrency reached over $51,300 (Bitstamp), but quickly retraced from there down to the $50K area. So far, this reflects a 2-day price gain of over $4000 since Friday’s low of $46,400.
Quick recap: Bitcoin price started to scale at the beginning of March but couldn’t overcome the resistance around $52,500 at the Golden Ratio (bearish .618 Fib) earlier this week. From there, it started to lose momentum until support was met at $47,200 (.382 Fib) on Friday.
Not a coincidence, there seems to be increased demand from institutions beneath $50,000. Data shows massive outflows from Coinbase when the price action was around $47K – $48K, indicating that institutions are doubling down on Bitcoin.
The Key Level
Following the bullish reversal on Wall Street’s Friday session, which included the new stimulus package approval, Bitcoin was able to reclaim the $50k price area, as of no

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Źródło: https://cryptopotato.com/bitcoin-price-analysis-btc-needs-to-close-above-this-level-to-continue-the-weekend-momentum/