Bitcoin can see $55K breakout if last major BTC price resistance is broken — Analyst

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD attempting to exit the $46,000 range on Tuesday after heading lower as the week began.

The area between $45,000 and $48,000 has acted as a narrow trading corridor for Bitcoin as it attempts to knock down its last hurdle before $50,000. So far, however, bulls have lacked the momentum to effect major change.

For Cointelegraph contributor Michaël van de Poppe, $48,000 was the level to watch on the day, as a breakout from there could lead to another upward impulse move.

“If we clearly breakthrough there, that is probably going to trigger a big short squeeze, as everybody’s looking for a short in this area,” he said in a fresh YouTube update.
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