Bitcoin Bulls Face an Uphill Task, Can Bulls Reclaim $50k High? – January 12, 2022
On January 10, BTC/USD has rebounded above the $39,100 support as the market rose to the previous high but can bulls reclaim $50k High? The upward move is facing resistance at the high of $44,000. Bitcoin bulls have an uphill task to resume upside momentum. Buyers will have to break above the moving averages or the $48,000 resistance.
Resistance Levels: $70,000, $75,000, $80,000
Support Levels: $50,000, $45,000, $40,000
On January 10 rebound, BTC price rallied above $$43,500 but was resisted at the $44,000 resistance zone. Nevertheless, if the bulls have broken above the $45,000 high, the BTC price would have fallen to the previous range zone. Before the January 7 price slump, BTC’s price was fluctuating between $45,600 and $48,000. This enables it to retest the … Read more