Bitcoin bursts greater and return to $50k; flash strikes in the direction of $55k on board
Bitcoin worth rallies past the $40k worth space and returns to the a lot anticipated $50k zone. Momentum stays sturdy as the combination market continues to see speculative capital inflows into Bitcoin and altcoins alike. The 2021 Market Profile thins out significantly between $50,400 and $55,000, indicating a comparatively quick transfer in the direction of $55,000 is probably going if momentum is sustained.
Patrons ought to be conscious that hidden bearish divergence between Bitcoin worth and the Composite Index exists, warning that the present transfer might terminate. It’s important that consumers propel Bitcoin above the September seventh excessive of $52,888 to negate any bearish divergence.
BTC/USD each day chart