Bitcoin (BTC) Price Prediction: BTC/USD Breaches $50k as Bitcoin Gathers Momentum

Bitcoin has been demanding $ 50k since Bitcoin gained momentum-on August 23, 2021, today bitcoin bulls exceeded the psychological price level of $ 50k as bitcoin gained momentum. Bullish momentum is expected to peak at $ 51,000. However, buyers may face stiff resistance from recent highs. Can the bulls maintain bullish momentum? However, the upward movement is doubtful, as price indicators show that bitcoin is trading in an overbought market.
Resistance levels: $ 50 000, $ 51 000, $ 52 000
Support levels: $ 40 000, $ 39 000, $ 38 000
BTC / USD-daily chart of bitcoin purchases after two failed attempts at the now $ 50,000 price level, resistance to overheads broke as bitcoin gained momentum. Buyers should keep bullish momentum above $ 50,000. This would allow Bitcoin to rise to the $ 51,000 price level. However, the Bulls will face stiff resistance at $ 51,000. Likewise, if the Bulls exceed $ 51,000 at most, the BTC / USD pair will reach a peak of $ 55,000. Conversely, if BTC / USD escapes the high of $ 50,000, bitcoin will fall to the next support of $ 48,000. The next drop will follow if the Bulls lose $ 48,000 in support. Bitcoin, meanwhile, is at 70 percent of the Relative Strength Index Dec. 14. It is also over 80% of the daytime stochastic December. According to price indicators, bitcoin does not have enough room for growth on the positive side.
Brazil’s Central Bank Governor Roberto Campos Neto has approved crypto regulation as the country develops in Sunday’s market. At an online event organised by the Council of America, Roberto Campos Neto shared his views on transparent payment networks, the country’s central bank’s digital currency project and Crypto Rules. He also discussed with the Brazilian Securities and Exchange Commission how to include cryptocurrencies in the regulation. According to him, “the financial market is

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