Bitcoin Price Rally Impacted With Its Narrow Swing?

Bitcoin Price Stuck in a Range!!!

Bitcoin price rally had gained the spotlight in recent times by surging to the highest ever levels around $58K. However, it appeared that it lost some traction, due to which the price plunged shedding more than $10K. Interestingly, the analysts and the community still believed the BTC price would smash $60K levels soon.

btc ascending trianle

The bitcoin price at the time of writing is $50,277 with a jump of nearly 1% since the last 2 hours and the weekly surge records 5.29%. The trading volume rose by more than 17% recording more than $45 million with the market cap denoting Bitcoin as a trillion-dollar asset. 

Technical Specifications

  • The resistance levels stand at $52,027
  • The support levels stand at $46,915
  • The technical indicators for the Bitcoin price rally point out towards a ‘buy’ signal

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