Quote from: Baofeng on Today at 06:56:50 PM

Quote from: Ali771samir on August 24, 2021, 09:35:41 AM

I agree that bitcoin is taking a new upward trend, but we should not forget that fundamental factors are also very influential in this direction, and we just shouldn't rely on technical analysis.

Given that the fundamentals are getting stronger by the day, it's good to look at technical analysis as well and see if they jive. Of course, we shouldn't rely on technical analysis as this is not an exact science, but majority of us here uses it as a sort of a guide because it definitely helps.

So that round number again, we have breach it already, but not enough to really hold on it and sustain. Maybe the second try is going to be different and we can reclaim it again before the end of the week.

So I've been chatting to a friend who does a bit of trading and understands the charts,
it seems that there are 3 futures closing in the next few days and the value of $49k
is not an ideal for any of them, looks like we wont be crossing $50k much for the
next few days.

Also on the radar but not talked about much is an incoming "Golden Cross".
This article from the 10th states a number of days but it has not formed.
https://cointelegraph.com/news/bitcoin-golden-cross-due-in-days-as-bears-draw-a-line-at-47k-btc-price

Historically the Golden Cross resulted in Bitcoin "taking off" so it will be interesting
to see if this time, the GC forms and if it helps Bitcoin cross $50k and by how much.