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Bitcoin price analysis: BTC retests $48,000, seeks to retrace next?
Today’s Bitcoin price analysis is pessimistic.
BTC/USD had a significant overnight increase to $48,000.
Currently, a gradual retest of the prior high is underway.
Today’s bitcoin price analysis is negative, as bulls have pushed the market over the previous high of $45,000 and the next barrier level of $46,000, before encountering some resistance slightly below $48,000. As a result, BTC/USD is expected to revert after the second testing of the $48,000 level and attempt to retrace some of the gains.
Bitcoin price analysis: BTC retests $48,000, and seems to be headed for a retracement?
Over the previous 24 hours, the market has continued to rise. Bitcoin and Ethereum, the market leaders, gained about 6% with overnight price increases. Meanwhile, the rest of the leading cryptocurrencies increased their profits even more.
Bitcoin price movement over the previous 24 hours: Bitcoin reaches $48,000 but loses momentum BTC/USD traded in a range of $44,768.36 — $47,710.15, exhibiting significant volatility over the last 24 hours. Trading volume has climbed by 11.84 percent to $41.67 billion, while the overall market capitalization is about $901.59 billion…
