This week started with much anticipation for Bitcoin price analysts such as myself with high hopes that we are going to see a 50k Bitcoin price at the end of the week, we saw how Bitcoin price reached above $46k during this week before correcting down to $44k at the moment and the weekend is almost here.
What are your Bitcoin price predictions are we going to enter the weekend in green and what is your price prediction this weekend.
You are absolutely right that Bitcoin is facing tough resistance to reach 50K, it has been rejected many times at 48k and today trading even below 46K. I am not very optimistic now becuase it has made 4 consecutive Red candles on Day chart but still above 50 weekly Moving average. I think it has to break 48K before it reaches 50K or bears will take the charge and push it down to 44k which is next support. Bitcoin has to stay above 46,500 to preserve current Bullish trend.
$48k is the closest target price for bitcoin but with what happened in these few days, it seems, bitcoin price needs more time to increase and back to $47k before the price can still have more chances to go to $48k.
I am still optimistic that sooner or later, the price will be back to $48k and can increase to $50k, no matter how long we should wait to see the price start increases.
But we can not do anything if the bearish trend comes to the market, making our waiting time longer than before.
But we already have many experiences seeing bitcoin price is up and down, so there is nothing to worry about because the price will increase at the right time.