BITCOIN-DAILY--The price tests the resistance at 44,845!--8-8-21

As shown on the daily chart for the BITCOIN, the price back on Jul 21st, failed to break down the crucial support at 30,066, and bounced back up to break out the dynamic support area (Three moving average lines) around 35,000. Since then the price has formed a higher low at 37,481, and continued up to test the resistance around 44,845. If the price breaks out the resistance at 44,845, we expect the price will go up to retest the next resistance around 48,713. If breakout fails on the other hand, we expect the price will bounce back down to retest the support at the dynamic support area around 39,000. Keep in mind that the price now moves above the three moving average lines on the daily chart, and this could be an early indication for the reverse of the trend from bearish to bullish. We will update the chart if anything changes.

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GOOD LUCK