Is Bitcoin price about to hit $50K? By Cointelegraph

Dollar weakness meets alt season: Is Bitcoin price about to hit $50K?

Bitcoin’s (BTC) price broke through the crucial level at $40,500 as news of Tesla (NASDAQ:) adding $1.5 billion in to their balance sheet. This news event pushed the price to new all-time highs, putting the next major resistance level at $50,000.

What’s more, other cryptocurrencies are accelerating left and right as the landscape is ideal for altcoins to start moving. All-time highs are being established daily across many altcoins while Bitcoin is consolidating. But how long will this consolidation last? Let’s take a look at the charts.

XBT/USD 4-hour chart. Source: TradingView
4-hour chart. Source: TradingView