Bitcoin has seen some solid progress in recent times, penetrating the wide price range traded since May and then repeatedly rising up to the $ 45,000 level.
The world's most prominent digital currency has hit a recent high of $ 45,310, producing a 6% jump ending yesterday's trading session.
Bitcoin is currently producing a 21% jump in the August trading session.
Recent sentiment has affected the price of Bitcoin after Brazil launched an ‘Environmentally Friendly’ Bitcoin ETF.
Some crypto analysts predict Bitcoin will hit $ 50,000 in the near future.
Interesting if seen on the current movement chart of the BTC/USDT price.
The BTC price movement has continued to see a drastic surge in recent times with the latest highs recorded yesterday.
From a technical point of view, the BTC price movement is seen hovering below the resistance zone around $ 44,000- $ 45,000 to regain the upward momentum.
Crypto analysts expect that if the price movement manages to regain the upside, the resistance zone around $ 44,000- $ 45,000 will be tested first before being broken and the price will continue to rise higher to record the latest highs.
However, if the price movement remains with a bearish pattern, the price movement will retest the RBS zone (resistance become support) around $ 41,000 before making a decline to the level, lower or it is just a retracement.
At the time of writing, BTC/USDT is trading at a price of around $ 43,420 down over 1% in the last 24 hours.
