• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
Bitcoin
Sensei Inu Logo

These Levels All Suggest Bitcoin Could Rally to $48,000 Before Peaking

Cole Petersen by Cole Petersen
3 years ago
in BTC
Reading Time: 2 mins read
  • Bitcoin has seen some wild price action today, setting new all-time highs before facing a 10% pullback that took place over the span of a few minutes
  • This pullback was short-lived and has mostly been erased in the time since
  • This type of volatility is to be expected in bull markets and is certainly not something indicative of a mid-term or long-term top
  • It is important to also keep in mind that while BTC retraced heavily for a short period of time, the buying pressure at $36,000 was intense
  • One analyst is now noting that a confluence of different factors all suggest that a move past $40,000 could be imminent
  • He notes that the crypto could peak around $48,000 in the weeks ahead

Bitcoin has seen some wild volatility throughout the past few days and weeks, with its rally reaching a boiling point this morning when bulls sent it flying up to highs of $40,000 before it faced an intense influx of selling pressure.

From here, the crypto slid to lows of $36,000 before the selling pressure subsided, and the cryptocurrency was able to rebound back above $39,000.

BTC now looks poised to see further upside, and it may only be a matter of time before it rallies towards $48,000 – according to one analyst.

Bitcoin Sees Heightened Volatility Following $40,000 Test

At the time of writing, Bitcoin is trading up just under 5% at its current price of $38,600. This marks a notable decline from daily highs of $40,000 and marks a rebound from its recent lows of $36,000 that were set just a few days ago.

Where the market trends in the mid-term should depend on whether Bitcoin can maintain the upper-$30,000 as a support level and flip the $40,000 resistance.

Trader: Confluence Suggests BTC Will Target $48,000

One trader explained in a recent tweet that a confluence of factors suggests that a break above $40,000 is imminent.

He notes that these levels specifically point to an imminent move to somewhere between $46,000 and $48,000.

“BTC: 2015 PF + two-year MA multiplier showing resistance confluence from 46k-48k. IF we get there, i’ll be selling spot into cash”

Bitcoin

Image Courtesy of CarpeNoctom. Source: BTCUSD on TradingView.

Unless Bitcoin establishes $40,000 as a local top, there’s a strong possibility that it will see further upside in the coming few days.

Featured image from Unsplash.
Charts from TradingView.
Tags: btcusdBTCUSDTxbtusd
Tweet123Share196ShareSend
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Bitcoin Price Jumps

Bitcoin Bulls Aim Big After Recent Surge To $28K

14 hours ago
Bitcoin

Bitcoin Price Breaks Higher, Is the Rally Just Getting Started?

4 days ago
Bitcoin Price

Bitcoin Bulls Keep Pushing But Faces Rejection, 100 SMA Is The Key

5 days ago
Bitcoin price bull

Crypto Analyst Predicts Huge Double-Digit Breakout For Bitcoin Price

5 days ago
Bitcoin

Bitcoin Price Could See Recovery If It Holds This Key Support

6 days ago
Bitcoin Price BTC

Bitcoin Price Turns Vulnerable As Indicators Point To More Weakness

7 days ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • The Next Bull Run Is Approaching, Follow The Smart Money...

    5 hours ago
  • Index CFDs: Experts Have Conducted A Comprehensive Study In...

    8 hours ago
  • Unbelievable: Tradecurve (TCRV) Skyrockets, Leaving...

    10 hours ago
  • Microsoft’s AI Reveals the Holy Trinity of Profit...

    10 hours ago
  • Investing in Trading 212: Is the Risk Worth the Reward?

    2 days ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.