Bitcoin is reacted to 50000 mutiple times in september and the top analysts are saying that a daily candle should close above 51000 to solidify the current uptrend .

The crypto market is hight on spirit in sep 2 after bitoin jump from 46000 and 47000 zone to 50000 resistance and after that btc make its support zone or buyer zone from 48500 to 49000. the move above the key resistance level came after industry insider hinted that recent bitcoin purchases would soon be disclosed in public document.

Additional bullish news came after vast bank announced that it had became the first bank in the us that allow user to buy and sell and hold crypto in their bank account

Bitcoin finally brokeout of resistance

This move of bitcoin manages to break trend line of acending channel and according to a top analyst btc needs to test 51000 before the market have the better idea of wheather 50000 will hold as support.

he also said that we have to look out for the support line which is at 48500.

What will happent if BTC break 48500 hundred support

If btc break 48500 hundred resistance than it next support level will be 46500

Bulls needs to close above 51000

Cointelegraph contributer michael van de poppe also suggest that Bitcoin need to close above 51000 in order to see continuation.

Failure to break above this level will result in futher consolidation for Btc and this would bold wells for alts coin which typicallt pack on significant gains when btc prices trades sideways

Cryptocureency market cap

The overall crypto currency market cap now stands at 2.227 trillion and Bitcoin dominace rate is 41.8 percent.

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Faisal (FHR)