Bitcoin price prediction: BTC price bounces back

Bitcoin price locked above the 79% Fibonacci retracement level at $40,727 on September 21 and directly produced a bullish overwhelming sconce the next day.

The uptrend has sustained, yielding a 9% rise so far.

A retest of the 50% Fibonacci retracement level at $45,210 is probable to happen if the purchasing pressure perseveres. Here the bulls might have difficulty due to the consolidation saw in the second week of September.

Though, a positive flip of $46,856 will carry the great cryptocurrency close to making a move. If the BTC price makes a conclusive close above $49,436, it will set up an upper high and highlight the start of a new increase.

As of now, it is not clear if the huge cryptocurrency has formed up to its mind to upright a different swing high yet. Also, it has set up two minor highs on September 7 and 18, and this trend might remain moving forward.

So, investors want to pay keen attention to the next swing high.