Here’s what needs to happen for BTC to hit $50,000

Date:

January 30, 2024

Bitcoin price hovers above the 2024 open at $42,479 and the 2024 POC at $42,643.
BTC has a higher chance of resuming the uptrend after tagging the daily FVG, extending from $41,396 to $40,288.
A breakdown of the weekly level at $39,851 will invalidate the bullish thesis.

Bitcoin (BTC) price shot up 3% on Monday but has since undone most of the gains and currently trades around $42,762. But a few things need to happen before BTC shows its bullish hand and resumes the uptrend.

Also read: Week Ahead: Bitcoin price likely to support these altcoin narratives this week

Bitcoin price could reveal directional bias soon

Bitcoin price created the Monday’s range, extending from $41,807 to $43,324. The most common trade idea is to short BTC after a sweep of Monday’s high and book profits at Monday’s…

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Here’s what needs to happen for BTC to hit $50,000

Bitcoin price could reveal directional bias soon

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