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Bitcoin has displayed extreme strength in the past two days as the levels soared above the multi-week consolidation zone

With this, the probabilities of reaching the $50,000 milestone emerge with good chances of achieving the milestone before halving

The Bitcoin pre-halving rally appears to have ignited with the prices reclaiming the lost levels above $46,600, despite immense bearish action. The parabolic recovery suggests growing strength among the bulls, due to which market participants have also become optimistic about the prospects of the token. The current strength of the bulls seems to have piled up and hence it is now believed that the price may easily make it to $50,000 before the Bitcoin halving event.
Bitcoin halving is largely considered the most bullish event in history. Apart from its fundamental significance, it has induced remarkable strength not only in the BTC price but also within the entire crypto space. Now that the fourth Bitcoin halving is less than 80 days away, the markets tend to rise above the pivotal resistance. Therefore, one of the well-known analysts, Michael van de Poppe, believes the BTC price may hit $51,500 before the event.
However, with the bullish predictions, the analysts also anticipate a probable pullback after hitting highs. Michael says that the levels above $51,000 fall within a liquidity range and testing them could result in a bearish pullback. However, it could be a short-lived pullback and hence it could be a good buying opportunity.

Also Read: Bitcoin (BTC) Price Aims for $52k Amid Heightened Whale Buying Pressure

“To be fair, I’m positively surprised with the current strength on Bitcoin.

Already at $46,500.

It seems likely we’re looking above the highs and perhaps the one above $51,800 pre-halving.

The markets are strong. Dips of 20% on Bitcoin are a buy.”

Bitcoin has previously failed to sustain above-average gains, which has resulted in a fakeout, trapping the bulls for a pretty long time. Therefore, the upcoming weekend could witness excessive price action, where the bears may try hard to restrict the rally below the highs. However, a weekly close above the crucial resistance-turned-to-support at $45,800 may have a bullish impact for a long period, offering the markets the required base to trigger a healthy bull run.

Bitcoin SV Price Breaks Its Major Level! BSV Price To Rally 15% Soon?

The market leader, Bitcoin price, has recorded a jump of over 4% during the early trading hours today. Following this, top tokens follow in their footsteps and record significant rises in their respective portfolios, with the BSV price adding over 4.25% within 24 hours.
The market leader, Bitcoin price, has recorded a jump of over 4% during the early trading hours today. Following this, top tokens follow in their footsteps and record significant rises in their respective portfolios, with the BSV price adding over 4.25% within 24 hours.
The Bitcoin SV price started the year by trading in a closed range between $88.54 and $100.63 for the first few days. As the market volatility grew, the bulls broke out of the resistance level. However, the rally was short-lived, resulting in the price experiencing a pullback.

After this, the BSV price continued trading under a bearish influence for the next five days, losing approximately 30.5% in valuation. The bulls held the price above the support level of $67.61, resulting in a jump of just over 37%. Following this, the price traded in a closed range between $88.54 and $100.63 for the next three days.
As the bearish influence increased, the BSV price lost momentum and recorded a correction of 18%, after which the price traded sideways between $76.70 and $88.54 for the next seven days. The bulls struggled to hold the price above the support level as the bear gained power, which resulted in a price breakdown.

After this, the Bitcoin SV coin traded in a closed range between $67.61 and $76.70 for three weeks, highlighting weak buying and selling pressure for the coin in the market. Recently, the bulls successfully broke out of the resistance level, indicating an increase in the price action.

Further, the Cross EMA 50/200-day shows a high possibility of a Golden Cross, suggesting the price will experience massive price volatility in the coming days.

Also read: Bitcoin Price May Hit $51,500 Before the Halving: But There’s a Catch!

Will BSV Price Increase?
The technical indicator, RSI, recently broke out of the overbought range, indicating a massive increase in the buying pressure for the BSV coin in the market. Further, the averages show a constant rise in the chart, suggesting the price will continue gaining value in the coming days.

If the market holds the price above its support level of $76.70, the BSV bulls will continue to rise and test its resistance level of $88.54 over the weekend. Moreover, if the bulls continue to dominate the market, it will further prepare to test its upper resistance level of $100 by the month-end.
Negatively, if the bears overpower the bulls and break down the support level, the BSV price will lose momentum and fall to test its lower support level of $67.61. Further, if the bears hold power over the market, the Bitcoin SV price will break its crucial support level and prepare to test its lower limit of $58.30 in the upcoming weeks.