#Bitcoin is holding firmly to the support at around $50,000 after the upswing from $45,000. The immediate downside is anchored by the 100 Simple Moving Average (SMA) on the 4-hour chart.
A break above the 100 SMA would trigger more buy orders as bulls anticipate liftoff to $60,000.
It is worth keeping in mind that a correction from the current price levels will come into the picture if Bitcoin loses the support at $50,000, highlighted by the 50 SMA. A bearish leg may ensue, pushing the bellwether cryptocurrency to the next support at $47,500 and $45,000, respectively.
the Federal Reserve released a document that outlined new preconditions for the launch of a central bank digital currency (CBDC).
A break above the 100 SMA would trigger more buy orders as bulls anticipate liftoff to $60,000.
It is worth keeping in mind that a correction from the current price levels will come into the picture if Bitcoin loses the support at $50,000, highlighted by the 50 SMA. A bearish leg may ensue, pushing the bellwether cryptocurrency to the next support at $47,500 and $45,000, respectively.
the Federal Reserve released a document that outlined new preconditions for the launch of a central bank digital currency (CBDC).