Bitcoin Price Analysis: BTC Trades Near Key Juncture Bitcoin | CryptoSoul

Bitcoin Price Analysis: BTC Trades Near Key Juncture

Bitcoin price is losing pace above $48,000 against the US Dollar. BTC is likely to correct further lower below the $47,300 level in the near term.

Bitcoin Price AnalysisBitcoin price extended its increase above the $48,000 resistance level. BTC even broke the $49,000 resistance level to move further into a bullish zone. However, the price failed to gain strength above the $50,000 resistance.

A high was formed near $50,550 before the price started a downside correction. There was a break below the $49,000 and $48,500 levels. There was also a break below a key bullish trend line with support near $49,000 on the 4-hours chart of the BTC/USD pair.