BTC/USDT (Short-term Consolidation?)

💎Technical Analysis Summary💎



BTC/USDT

-Bitcoin is approaching near 50k dollar resistance level
-The price is reacting to every good fundamental news recently
-It is currently consolidating and retested the 20MA short term support
-The price bounces off for the 2nd time around which is a good sign of strength
-It seems the 48k dollar resistance area is acting as a strong barrier
-Though buyers are still interested at this high price
-I can say, Bitcoin is like to consolidate in this range until next week
-If it does, the chances to break this resistance zone will increase
-For now, there is no major red flag and the Altcoin space is loving it
-But always remember to follow your trading plan and put stop loss always





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