Bitcoin price since the past couple of days appears to have flipped the bears as it comfortably heads towards $44K resistance
As the bulls gear up for a bullish weekend, the price could eventually hit the target set at $50K in the short term
The crypto market seems to have come back on track as most of the coins experience a huge surge. Bitcoin price after a 6% jump in the previous day’s trade, added up to another 6% fresh jump. The crypto market appears extremely bullish and most of the coins could experience a series of pumps for the next few weeks.
The deadly death cross drained off more than 10% in the BTC price, however, it continued to accumulate later, waiting for the right time to surge. With multiple rejections along the same regions, the asset showcased a strong consolidation. After breaking $41,000 just a day before, closing the day’s trade above $43K levels could clear the path towards $100K.
As Coinpedia reported earlier, the BTC Golden Cross event is anticipated to occur somewhere by the end of August or Mid-September. But with the price trading at $43K within a very small time frame, the event could advance for nearly a fortnight.
The analyst predicts the Golden Cross to appear in the mid of august and hence a substantial jump may also be fast approaching. However, a slight correction could also be underway but if the golden cross appears then it could prevent the price from losing bullish momentum. And also fuel the BTC price rally.