Bitcoin Approaching Resistance Close to $52K; Help Between $48K-$50K

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Bitcoin (BTC) has entered an preliminary resistance zone close to $52,000 and will face a short-term pullback towards $48,000-$52,000 assist. The cryptocurrency seems overbought on intraday charts after a close to 20% rise over the previous week.

  • The final time BTC approached the $52,000 degree was on Sept. 6, which preceded a pointy sell-off.
  • This time, nevertheless, pullbacks seem like restricted given a sequence of breakouts over the previous week.
  • Patrons might want to defend decrease assist above the 200-day shifting common, presently close to $45,000, with the intention to resume the worth restoration since July.

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