Bitcoin Price Seems Unstoppable As BTC Bulls Aim For $48K

Bitcoin’s price continues to surge, with bulls now eyeing the $48,000 mark. The cryptocurrency has managed to hold onto gains above the key $45,000 resistance level and appears set for further gains in the near term. BTC is currently trading above $45,000 and the 100 hourly Simple Moving Average. On the hourly chart, a bullish flag pattern is forming, indicating a potential continuation of the upward movement. The first major resistance lies at $46,000, and a close above this level could propel the price even higher towards $46,800 and eventually $48,000. However, if Bitcoin fails to break above the $45,300 resistance, a downside correction may be initiated, with immediate support near $44,800. Further support can be found at $44,000, and a move below this level may result in additional losses. Traders and investors are advised to conduct their own research before making any investment decisions, as the cryptocurrency market carries inherent risks.