(4 votes)

Last Updated Date: 1 September 2021 @ 6:19 AM (UTC)
*Please note that all the dates are in GMT time zone

Bitcoin continued to range below $50,000 on Aug. 31, the final day of the month, as analysts demanded higher levels in order to continue the bull run. 

BTC price action disappointed the market throughout the weekend and beyond as a lack of momentum kept $50,000 at bay. Major resistance, now solidified on exchanges at $51,000 and above, remains firmly in place, and analysts say the outlook remains muted until this level is turned to support. If that happens we most likely are going into a new impulse wave back to $58,000 at first and then probably a new all time high.
The market remains in a bear trend, but trade is trying to bottom / turn off support levels under 46309. Trade action still hints for corrections the next few days. A close over 49893 will boost retracements near 51572. A close over 49833 is friendly. Closes under 43935 - 43800 are needed to renew washout selloffs.



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