Bitcoin price prediction: BTC price approaches rigid resistance barrier

The bitcoin price rose 12% over the previous three days and is presently trading around $48,380. The resistance levels at $48,895 and $50,000 are the main hurdles in bulls’ path.

Hence, the bulls want sufficient momentum to flip these barriers into support platforms for a flat recovery to September 6 levels.

This change will push BTC into the Fair Value Gap (FVG) and advise that the purchasers might be competing for a retest of this range’s upper limit at $56,361. If this growth is complete, it will signify a 16% ascent from the present position.