Bitcoin price recovered from the recent losses and surged above the $46,000 level. The Major crypto even broke the $46,500 resistance zone and is currently trading near $46,700. BTC/USDT is all set to test the next major resistance at the 47,000 level.
If BTC price rises above the 47,500 level it may initiate a bullish rally to $48,800 or even hit $49,200 if bulls remain intact.
On the flip side, Bitcoin might experience a fresh decline below the $46,000 support. In an extended bearish trend, the next major support is near $45,500, below which the price might revisit the $45,000 support.
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