Bullish Bitcoin Eyes Set on $48K After Holding Above $45K

[Cheema02]

Hi Everyone, The Price of Bitcoin Is Expected to Rise to $48K Holding Above $45K, Bitcoin continues to rise and is getting closer to $46,000 suggesting more gains may be possible. The 100-hourly Simple Moving Average supports the current consolidation near $45k indicating a bullish trend. I think a bullish flag pattern near $45,300 suggests that BTC and the USD are about to climb higher with $46,000 and $46,800 serving as resistance levels. If these levels are broken Bitcoin might rise to the coveted $48k level.


If the $45,300 resistance zone is not broken, a corrective downturn may begin with $44,800 likely acting as initial support. In the immediate term a decline towards $43,600 or the 50% Fib retracement level could be possible if there is further bearish movement toward the $44k level. details