Bitcoin price forecast (BTC): BTC / USD pair support recent rallies as they remain above $ 46,000,

Bitcoin (BTC) is set to trend upward if held above $ 46,000– August 14, 2021 since July 31, bitcoin bulls have been able to support recent rallies above $ 40,000 if held above $ 46,000. BTC price is a higher and lower December. On August 3, the BTC price hit lower levels above $ 38,000, which caused bitcoin to reach previous price levels. Today, the BTC price is falling after giving up a high of $ 48,000.

Resistance levels: $ 45,000, $ 46,000, $ 47,000
Support levels: $ 40 000, $ 39 000, $ 38 000
BTC / USD – daily chart Bitcoin purchases today the BTC price fell to a low of $ 46 281 and exceeded $ 46,000 . Buyers were unable to keep bullish momentum above $ 48,000. Also, BTC / USD was overbought within a few days. The current selling pressure has eased as Bitcoin has found support above the 21-day SMA. Bullish momentum will continue if the price finds support above moving averages. On the plus side, if the Bulls overcome the resistance of $ 48,000, bitcoin will rise above the psychological price level of $ 50,000. However, if the selling pressure continues and falls below the $ 38,000 support, the downward trend will continue. Meanwhile, the BTC price is decelerating above the 21-day SMA for a possible upward move. Bitcoin is currently trading at $ 46,826 at the time of writing.
The Argentine President supports bitcoin and CBDC-which includes more than $ 46,000-while Argentine President Alberto Fernandez has said he supports the idea of exploring digital assets and the central bank’s (CBDC) digital currency. The president believes Bitcoin is acting as a hedge against inflation in the broader global economy. Still, the head of the country’s Central Bank rejected the President’s idea. Argentina’s Central Bank Governor Miguel Pesche has rejected Argentina’s Central Bank’s review of the digital currency (CBDC). Miguel Pesche noted that the cryptocurrency poses a threat to economic stability and foresees stricter regulation.

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