Bitcoin price exceeded the $50,000 mark for the first time in history and investors are still coming in for more stakes. Buying bitcoin now maybe a little risky because it’s gone to the moon already. From an analysis point of view, just right at the $50,000, there is a price rejection and bitcoin price is showing some sign of weakness. The imminent divergence which is a disparity between price and MACD also serves as a confirmation of a possible downward toll. Probability should be that price will retest $40,918 or $44,000 level.
Looking at the technical indicators:
Major Support Level– $40,918
Major Resistance Level– $47,500
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