Price Analysis

Bitcoin Short-Term Update: BTC Price Poised to Hit $48,000 Soon, Here’s When !

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Jan 12, 2022

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Article Highlights
  • The BTC price after the past two consolidations chose to trend towards the south and hence the current consolidation is expected to manifest a reverse trend

  • Bitcoin is yet again attempting to recover form the losses as it halted the downtrend and consolidating preventing further dump

The Bitcoin price after maintaining a huge doentrend is about to go parabolic but slowly yet steadily. The asset from the previous trading day is utilizing all its resources to prevent plunging down and quickly flip after accumulating some gains.

In the longer time frame BTC price still looks quiet bearish but in the STF, it is preparing to reverse the trend. 

Currently, BTC price after sliding down during the recent sell-off halted for a while and began accumulating strength.

While the asset is undergoing a healthy consolidation preventing further loss, the buyers appear to have slowly becoming a little confident about the asset.

And hence the buying volume is also attempting to mount after notable selling. However, the uptrend may not be confirmed until the asset surpasses $43K. 

What’s Ahead For Bitcoin (BTC) Price ?

The BTC price is currently aiming to test the crucial resistance above $43,300 and if the asset successfully breaches through these levels, then a sensible uptrend may be confirmed.

However, the scary Death Cross is on the horizon whihc is expected to happen in just matter of some hours ahead. And the BTC price is feared to plunge nearly 10% that may drag the price below $40,000. 

However, the bears may be in deep fight with the bulls at $43,000 levels and the mounted volume may decide the further trend. Once these levels are successfully sustained, then the next stop would be very close to $50K at $48K.

Therefore, in order to maintain a substantial uptrend, the Bitcoin price is required to withstand the upcoming death cross with more strength and buying volume. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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