The crypto space currently appears to have flipped the bears as the reversal is perfectly back on track. Where many assets followed a slight pullback in the early trading hours, a flip towards an uptrend nullified the bearish trend.
Currently, the BTC price is heading strongly towards $45,250, the next resistance level. And a substantial jump close to $50,000 may be imminent if this resistance is held strongly.
The most crucial resistance levels for Bitcoin were around the 200-MA at $44,941 which were smashed and the price rallied above $45,800. However, the path towards $50,000 appears to be clear as the next resistance at $46,000 is an inch close.
After the deadly death cross, the crypto space is largely waiting for the bullish Golden Cross event. As Bitcoin had adopted a steady rally, the event was speculated to occur somewhere by the end of August or mid-September.
But one of the popular analysts, RektCapital, predicts the Golden Cross is just 5 days away.
However, after the Golden Cross event with Ethereum just a moment ago, Bitcoin could be the next on cards. While ETH price rose remarkably, BTC price is also expected to hit $50,000 in the coming days.
Also, the possibility of the price forming new ATH by this month-end cannot be ruled out, if the price rally accelerates.
Source: Coinpedia.org
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