Bitcoin Returns Near $50K, Next Resistance at $55K

Bitcoin (BTC) buyers are making another attempt to reach a resistance level of $ 50,000. If the outbreak results in an additional $ 55,000 increase as momentum improves. With a moving average of 200 days, support declines at around $ 46,000.
The short-term contraction receding that began in July was well supported by the receding. Signs of depletion and overbought at the forefront led to a week-long integration phase. This can be resolved with good results. Bitcoin was trading at around $ 49,600 when it went to the press, up 2% last week.
The Relative Strength Index (RSI) on the daily chart has fallen from the overbought level and should stabilize near the 50 neutral point. Bitcoin is trading above the 50-day and 200-day moving averages, demonstrating an improvement in trend strength after the surge, revised earlier this year. With resistance of $ 55,000 in the short term, the Bulls may continue to operate throughout the weekend.