Will this week end Bullish for Bitcoin?

What's in this article

The last week has been slightly bullish for bitcoin as it rose more than 13% but not enough as it fails to break above some important levels.

Bitcoin price today is $50,805.88 USD with a 24-hour trading volume of $20,787,848,804 USD. Bitcoin is up 1.68% in the last 24 hours, with a market cap of $960,851,845,879 USD. It has a circulating supply of 18,912,218 BTC coins.

Source: Tradingview

Bitcoin: Analysis

As shown in the chart, Bitcoin is rising above an arc and facing the local resistance by EMA 200 on the 4-hour chart. On major resistance level here for Bitcoin to overcome is at $51800, the peak of December 24. Once it breaks above, it can soar up to the next resistance at $53,500, fib 1.272. However, it might come down first to restest the support of the curve.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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