Aug 13 1/2: #Bitcoin: On Wednesday $btc jump near 60% from July bottom and hit $46787 on Bitstamp. $48k-$50k is last major resistance for bitcoin of this short term bull trend. If $btc able to cross this level in August, it will open new target for #bitcoin and dismiss all bull trap thought.
At the time of writing, $BTC gave 5% correction in last 24 hrs and trading near $44300. These fundamental correction is very common in Bull trend and its size can be more bigger. on downside BTC have strong support at 42k and 40k where bulls will be active again.
Monthly chart: BTC finished July candle at $41490, and if we are in bullish year than month of august should be green.
We are in short term correction after hitting 60% jump in last 20 days. MACD on weekly chart also showing bullish sign and may give crossover in next few week.
Regulation also hot topic this week, this can create short term panic but in long term regulation will good and invite more institutional investors
