Can Bitcoin (BTC) Reach $50,000 in the Final Week of 2023?
Recently, the Bitcoin (BTC) rate reached a weekly close above a crucial resistance level.
Regardless of the bullish close, there are short-term indications of weak point establishing. Will the recently of 2023 be bullish or bearish?
Bitcoin Closes Above Resistance
The BTC cost has actually been on an upward pattern given that the start of the year. Bitcoin increased by 160%, causing a brand-new annual high of $44,700 on December 8.
The high was made above the 0.5 Fib retracement resistance level. It is uncertain if BTC has actually broken out considering that the cost closed listed below the location next week and then once again above the week after.
This motion includes unpredictability to whether the pattern is bullish or bearish.
BTC/USDT Weekly Chart. Source: TradingView
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