The crypto market is currently abuzz with discussions on Bitcoin (BTC), as it teeters on the brink of reaching the $50,000 threshold. This is fueled by the fast-approaching halving as well as a “bullish divergence” observed over the past week, with Bitcoin breaking past the $48,000 mark. Analyst Analysis On Bitcoin Michaël van de Poppe, a prominent figure in the realm of crypto analysis, recently shared insights on the bullish divergence. Van de Poppe pointed out the notable weekly candle that propelled Bitcoin’s value beyond $48,000, signaling a potential challenge at the $50,000 resistance level in the near term. #Bitcoin looking at the resistance. Massive weekly candle, through which Bitcoin is back above $48,000. I’m personally interested what price will do around $50,000 in the upcoming 1-2 weeks. pic.twitter.com/6I927U20pg — Michaël van de Poppe (@CryptoMichNL) February 12, 2024 Further echoing this challenge, IntoTheBlock highlighted a key obstacle Bitcoin faces on its path to $50,000 in the latest post. The firm identified a crucial resistance level, noting that over 800,000 addresses have purchased nearly 270,000 BTC at an average price of $48 ..
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