Bitcoin Sets New Highs as All Eyes Watch Reaction to $50,000 Resistance

Bitcoin set fresh all-time highs today, with bulls taking full control of the cryptocurrency’s price action as they set their sights on $50,000 Where the crypto trends in the near-term should depend largely on whether or not bulls will be able to maintain their current momentum Any firm rejection could result in another drawdown, signaling that the resistance within the upper-$40,000 region is insurmountable for the time being One trader explained in a recent tweet that he is now watching for a move towards $60,000, noting that BTC may “teleport” to these highs once it can break above $50,000 He does believe that this could be the point at which the market sees a massive shakeout, with BTC potentially retracing to as low as $45,000 Bitcoin and the entire crypto market have been caught within a strong uptrend throughout the past few days and weeks, with sellers unable to gain…

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