ANALYSIS: BTC APPROACHING $50K WITH A SOLID WEEKEND RALLY
September 21, 2021
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Bitcoin Price Analysis: BTC Approaching $50K With a Solid Weekend Rally
Author: Daniel Joe
Last Updated Sep 18, 2021 @ 11:43
BTC has been showing near-term signs of strength, especially after reclaiming the 200-moving average on the 4-hour chart and holding $47.2k, a key level of support.
What’s notable is that Bitcoin managed to hold support despite global stocks selling off with the dollar rising. Near term, BTC has managed to reclaim the critical 200-day moving average, 21-day, the 21-day exponential moving average, and the 200-moving average on the 4-hour chart. This is quite impressive considering that global stocks have been selling off.