Bitcoin started the week in strong fashion, with prices rising past $47,000 for the first time since the beginning of the year./USD rose to an intraday high of $47,245, as prices rose to their highest point since January 2.
Today’s move took place following the breakout of the $44,950 resistance level during Sunday’s session, with prices now targeting yet another ceiling.Bitcoin bulls will likely be looking towards the $50,000 mark as their next target, however they must first overcome resistance at $48,200. However, looking at the chart, the 14-day RSI indicator is now deeply in overbought territory, tracking at nearly 70, which is its most since October.
This will likely be a huge obstacle for bulls to overcome, as price strength appears to have peaked, with bears possibly waiting for the perfect time to enter the market.
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I do not want to imply that Bitcoin's price is stable because it isn't. Bitcoin's price is still wildly volatile but volatility has been on the decline. I’m very certain Bitcoin will dominate world economy. Guys Follow hhenrytx his tweets have been very helpful.
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I’m watching $40k-$50k as the next resistance for Bitcoin if we can break this range with confirmation then the 2nd half of bull market is starting! I’ve been following & taking 62_crypt tweets and every single tips seriously I’ve been doing superb Follow her!!
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