A Move to $50,000 is “On the Table” for Bitcoin as Bulls Defend Key Support

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Bitcoin has seen some mixed price action as of late, with bulls struggling to defend the cryptocurrency against a break below $40,000 as bears try to reverse its momentum The crypto’s ability to hold above this level is promising, but it remains unclear as to how long it will hold If bulls can flip this previous resistance level into support, it could prove to be a strong base for the crypto to grow upon in the near-term One trader is now expecting a rally up towards $50,000 in the near-term, noting that the selling pressure has not yet been significant enough to reverse its short-term uptrend Bitcoin has been caught within the throes of a short-term consolidation phase throughout the past couple of days. Where the market trends in the mid-term should depend largely on whether or not bulls can hold the $40,000 level as support. It has attempted to…

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