If $BTC breaks $47532 then a strong bullish trend is possible
BTC has been range bound over the last couple of months. After the massive fall earlier in May, the price stuck for the most part between $29222 and $43000. Most recently, the area of resistance around $43000 has been broken and the market seems to be attempting a reversal or change of trend. Watch $47532, an area of value we had drawn a few months back. If the price breaks through $47532 and stays strong above it there is a possibility of another bull run. However, if $47532 is acting as a strong area of resistance and if BTC struggles to break through the $50,000 mark with confidence then there could be another period of sideways market for a bit.Nothing here is investment advise. Please do not take more risk than you can afford to lose.
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