Bitcoin (Bitcoin) Volatility is late again, and an analyst tends to “impulse” to move towards $50,000.
Trader: “Calmly Waiting” for Bitcoin Breakthrough
Popular trader Crypto Ed stated that although the event’s low of $42,800 has not been retested, the collapse is not impossible.
“To me, this looks like a bullish pennant… an impulsive rebound and then a consolidation,” he said Summarize And the chart updated on Wednesday.
Due to the expected upward trend, trader and analyst Rekt Capital will continue to retest Bitcoin’s 50-day exponential moving average (EMA) as a potential game changer.
“This is the first time BTC has retested the blue 50-day moving average as support, after it was retracted as support in late July,” he said. famous.
“The 50-day EMA helps to understand the bullish momentum because it tends to support an established uptrend.
As Solana exceeds $200, altcoins recover
At the same time, the improved performance of major altcoins has brought hope to Bitcoin’s short-term bullish case.
Although BTC/USD remained roughly the same overnight, all of the top ten cryptocurrencies by market capitalization recorded steady gains of at least 4%.
Still dazzling However, the most important one is Solana (SOL), which is now trading at more than $200, which is a 32% increase in just 24 hours.