In the challenge of bulls pushing $50,000, Bitcoin fell 4% — watch these BTC price support levels

Bitcoin (Bitcoin) Lost interest in further gains on Thursday because the BTC price action target level was below $45,000.

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

BTC price rises to 44,000 USD

Data from Cointelegraph Markets Pro and Transaction view It shows that BTC/USD tested 44,200 US dollars on Thursday and fell more than 4% in 24 hours.

The currency pair had been seeking a new local high close to US$47,000 the previous day, but the main resistance at this level eventually won, and the trading volume failed to maintain the momentum of the bulls.

Cointelegraph contributor Michaël van de Poppe “The recent breakthrough has been slightly weak, which means running may be exhausting.” warn then.

In his recent YouTube updates, Van de Poppe assessed the possibility of a more fundamental correction of Bitcoin.

“Now, I think most people expect to reach $48,000 before we reverse,” he said. echo Forecast for Wednesday.

“Either we break through it, we will rush towards $55,000, or we won’t hit it, just move from here to a low of $40,000, maybe a high of $30,000.”

On the major exchange Binance, the buyer support level is well above US$42,000, while the considerable selling barrier remains at US$47,000.

BTC/USD trading level (Binance) as of August 12. Source: Material Indicators/Twitter

The golden cross is still on track

At the same time, even a small drop on Thursday is not enough to avoid a potential bullish event on Friday’s daily chart: the golden cross.

related: Traders hope that a new altcoin season will appear because Bitcoin has been converted to 45,000 USD to support

As famous According to analyst and trader Rekt Capital, the traditionally positive golden cross is still expected to be touched on Friday. It involves a 50-day moving average that crosses the 200-day moving average.

He wrote on Twitter: “This BTC decline is not enough to shift the upcoming golden crossroads,” and added that BTC/USD should still be maintained at $45,200 as support to continue its “bullish bias.”

In contrast, some golden crosses have seen subsequent price adjustments.