Breaking: Bitcoin slices through $45,000, targets $50,000 next

FXStreet Team FXStreet

Bitcoin price has reached $45,000 after gaining more than 7,500 points in market value over the past ten days. Even though this resistance level has managed to reject BTC price each time it has been tested since the beginning of the year, it appears there is enough buying pressure to break through it finally.

If the pioneer cryptocurrency manages to close on the daily chart above $45,500, it will signal a breakout. Sidelined investors may try to get back into the market, pushing Bitcoin price higher. The 200-day moving average at $48,000 may act as resistance on the way up, but ultimately BTC could target $50,000.

BTC/USD daily chart

It is imperative to watch out for a daily candlestick close above $45,500, which could signal the resumption of Bitcoin's historic uptrend.

Author

FXStreet Team

FXStreet

Sui extends sideways action ahead of Grayscale’s GSUI ETF launch

Sui is extending its downtrend for the second consecutive day, trading at 0.95 at the time of writing on Wednesday. The Layer-1 token is down over 16% in February and approximately 34% from the start of the year, aligning with the overall bearish sentiment across the crypto market.