fxstreet.com 12 Feb, 2021 06:30 am

Fresh highs of $49k with bulls well on their way to $50k

Fresh highs of $49k with bulls well on their way to $50k
In the prior analysis, BTC/USD Price Analysis: What it might take to crack $50,000, a series of prospective price action was laid out as the potential

In the prior analysis,  BTC/USD Price Analysis: What it might take to crack $50,000 , a series of prospective price action was laid out as the potential route for bulls to reach the psychological $50k mark.Prior analysis, daily chart As explained in the prior analysis, the price was expected to find support on the 38.In the following, with the price now printing a fresh higher high of $49,000, it is illustrated as to how the price is advancing and in accordance with the prior price action trajectory forecasting such an outcome.It is also illustrated that the price is highly bullish on the 4-hour time frame and $50k is a very realistic target.

Live market, daily chart The price, as illustrated, has indeed moved higher from the expected support zone.Daily & 4HR chart As can be seen, the price has already been supported at the structure on the 4-hour time frame and subsequently went on to print a record high.

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