If the price of Bitcoin stays at $49,000, Bitcoin will usher in an “extraordinary” weekly closing price

Bitcoin (Bitcoin) Holds $49,000 on August 28, after the US Federal Reserve (Federal Reserve) launched a rush to key resistance levels.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

Everyone is paying attention to the $49,300 on the weekly chart

Data from Cointelegraph Markets Pro with Transaction view After breaking through the 49,000 USD mark late on Friday, BTC/USD cooled to a higher level.

At the end of the work week, Fed Chairman Jerome Powell (Jerome Powell) had a positive reaction to comments about curtailing asset purchases and comments about inflation.

As Cointelegraph Report, The stock market soared to record highs, and the dollar weakened-Bitcoin took advantage of this opportunity to increase by $1,500 in an hour.

With the emergence of new “bullish impulses” in the cryptocurrency market, the sentiment over the weekend is far from bearish.

“If BTC can stay above $49,000 for the rest of the week… it will be ready for an astonishing weekly closing price,” trader and analyst Rekt Capital Summarize.

At the time of writing, the weekly closing price is likely to exceed the last one, and the $49,300 level will set a multi-month high.

This will also bring Bitcoin back to the small two-month window that closed above $49,000 on the weekly chart earlier this year.

BTC/USD 1-week candlestick chart (Bitstamp). Source: TradingView

“Bitcoin’s direction should be obvious,” popular Twitter account Ryan Cantlin Clarke Add to.

At the same time, I checked the trading level of Binance, the main exchange on the day, and found that the support line was slowly established at around US$48,800, forming a close confrontation with sellers who were only less than US$50,000.

BTC/USD trading level (Binance) as of August 28. Source: Material Indicators/ Twitter

With the awakening of altcoins, Cardano bulls are back to action

At the same time, altcoins mainly benefited from the renewed strength of Bitcoin.

related: 8/27 Price analysis: BTC, ETH, ADA, BNB, XRP, DOGE, DOT, SOL, UNI, LUNA

Except for the flat Binance Coin (Bitcoin), the top ten cryptocurrencies by market capitalization achieved steady growth within 24 hours.

Cardano (Have) Bull Take the lead, ADA/USD rose nearly 10% to US$2.85, making up most of the land lost after hitting a new all-time high recently.Solana (SOL) continues to move up after itself A record high.

ADA/USD 1-day candlestick chart. Source: TradingView

Ether (Ethereum) Was US$3,240, a slight increase of 4% from the same period last week, but still a decrease of 1.5%.