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Bitcoin holds $50K as analyst says weekly timeframes confirm bull market remains intact
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Bitcoin (BTC) retained $50,000 as support overnight into Dec. 8 amid confidence that the 2021 bull market was not yet over.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD testing but failing to crack through $50,000 after reaching local highs of $51,990 on Bitstamp Tuesday.
The pair had accelerated at the start of trading on Wall Street, adding to existing gains from Sunday to give BTC some short-term relief.
Now, however, it was time to consult longer timeframes to get a clearer picture of Bitcoin market health, according to trader and analyst Rekt Capital.
In his latest YouTube video, Rekt Capital eyed the weekly chart to reveal what appeared to be a previously long-term resistance level flipping to support.
"This might
Read more on cointelegraph.comAbout this in other media
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