Bitcoin price turns to test lower support levels as $50K stays out of reach

Bitcoin (BTC) continued to range below $50,000 on Aug. 31, the final day of the month, as analysts demanded higher levels in order to continue the bull run.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

$51,000 remains the deal-breaker for BTC

Data from Cointelegraph Markets Pro and TradingView painted a dull picture for investors on Aug. 31 as BTC/USD continued to trade in a four-day-old descending channel.

Despite highly encouraging on-chain metrics and fundamentals, BTC price…


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