However, some crucial Bitcoin price levels must be broken before the bullish party can start.
Category: Bitcoin Analysis
Nonfarm payroll data shows the worst U.S. jobs gain in seven months, limiting concerns of Federal Reserve tapering this year.
Ether showing strength, while Bitcoin is consolidating in a range beneath $50,000.
Bitcoin addresses holding 1,000–10,000 BTC have resumed accumulating coins.
Bitcoin bulls remain pressured under $50,000 in the week that would shed more light on the Federal Reserve’s taper outlook based on non-farm payroll numbers.
The relative strength index is making lower highs while correcting from its overbought area.
The indicators, coupled with a strong bid momentum versus the offers, suggest that Bitcoin’s price could push above $50,000 in the coming sessions.
“Watch carefully, maybe take some profits or hedge a bit,” advises John Bollinger.
Bitcoin correcting after a big announcement of Michael Saylor and facing crucial resistance at $51K.
The statement appeared as a takeaway from Blockworks’ “Bretton Woods: The Realignment” conference that gathered economists, macro analysts and investors to discuss Bitcoin.