Forecasts for the short term include a deeper dive towards $40,000 but also an imminent surge back above the $50,000 mark.
Bitcoin (BTC) gave traders a serious sense of deja vu on Aug. 26 after a fresh attack on $50,000 ended in a firm rejection.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin optimism waversData from Cointelegraph Markets Pro and TradingView showed BTC/USD falling to local lows of $46,540 on Bitstamp, having passed $49,300 hours before. The action continues rangebound behavior which looks to be cementing old resistance at $51,000, bears lacking volume and momentum to flip the area to support.Despite pausing in the mid $46,000 range, Bitcoin was not enticing many for long positions on the day, with popular trader Crypto Ed eyeing the potential for another relief rally before an even deeper price dip takes hold.#BTC step 2 (bounce) executed it seems pic.twitter.com/ZPEsDXspmk— Crypto_Ed_
Źródło: https://cointelegraph.com/news/traders-split-on-btc-price-outlook-after-bitcoin-dips-below-47k
