Bitcoin (BTC) wants to reward its rise, which it has been continuing for days, by surpassing the critical $50,000 resistance.
As it is known, BTC entered a period of decline after reaching a record of $ 64,000 in April 2021. In recent weeks, BTC has managed to turn its direction upwards, contrary to the common belief of many.
The crypto asset reached as high as $49,704 yesterday, testing the highest level since May. At the time of writing, BTC was trading at $ 49,087. Many analysts say that important critical hurdles have been overcome.
According to the news in Bloomberg HT, considering the downward trend seen in the April-June period for Bitcoin, the 61.8% recovery according to the Fibonacci analysis still stands out as a technical obstacle. There is also significant resistance around $50,000.
Speaking to Bloomberg, CEX.IO Managing Director Konstantin Anissimov stated that the most important resistance in front of Bitcoin is $ 50,000 for now. According to Anissimov, this rise is not yet a strong leap. The medium-term target, according to the popular name, is $55,000.
According to Anissimov, many buyers who will be caught up in the current rally may be able to break the $50,000 resistance.