Bitcoin (BTC) is keeping everyone guessing this calendar week every bit another Mon starts below $50,000.

After rangebound movements over the weekend, bulls are yet waiting for a decisive set on on the $50,000 marking — could information technology happen now?

Despite optimism from analysts, it seems that not even an "uber dovish" Usa Federal Reserve has the fuel to push BTC/USD in a higher place crucial resistance.

Cointelegraph takes a look at five things that could still provide Bitcoin with new momentum.

Dollar comedown as stocks set for even higher highs

Stocks striking fresh all-fourth dimension highs last week on the back of comments from Fed Chair Jerome Powell.

Correspondingly, the force of the U.S. dollar took a hit, and the U.Due south. dollar currency alphabetize (DXY) began a multi-24-hour interval downtrend.

Such weather condition tend to be favorable for Bitcoin, and a lack of headwinds coming from the macro-environs could withal give bulls a helping hand.

"At that place is little doubt Powell was dovish, relative to market place pricing and positioning," one analyst told Bloomberg, echoing the general feeling from Friday's speech.

DXY 1-solar day candle chart. Source: TradingView

Resistance keeps Bitcoin bulls in check

Saturday and Sunday weren't exactly boring for Bitcoin traders — two run-ups higher up $49,000 gave them plenty of hope for the "large showdown" against the $l,000 barrier.

In the end, however, both attempts failed beneath $49,500, and BTC/USD remained in a narrow range in the upper $forty,000 zone.

On Monday, the movie remains the same, with $47,000 at present back on the table for support.

"Bullish on Bitcoin to a higher place $51K, until so but noise," Cointelegraph contributor Michaël van de Poppe summarized as the weekend ended.

In an uncertain environment, others are warning that buy-side strength may yet crumble in the short term to produce lower back up retests.

"BTC is still trying to hold this carmine area every bit back up, producing increasingly volatile downside wicks beneath it," trader and analyst Rekt Majuscule commented on an updated daily chart.

"The downside has been bought up successfully thus far but this blueish downtrending resistance continues to weigh down on toll."

A look at buy and sell levels on major exchange Binance Mon underscores the relative lack of support much in a higher place $40,000, while house resistance is in place overhead.

BTC/USD purchase and sell levels (Binance) every bit of Aug. xxx. Source: Material Indicators/Twitter

Hash charge per unit retests April dip zone

It'south a situation that could yet play out elsewhere in Bitcoin beyond spot cost — fundamentals are also slowing their rapid growth.

Later on an impressive 13.2% upward difficulty adjustment a week ago, Bitcoin is at present looking at the next being all merely flat — less than ane% is currently estimated to exist added.

This may yet turn negative, marking a pause for thought among miners afterward a mass render to the network over contempo weeks.

Should difficulty nonetheless increase, all the same, it would seal the 2nd run of iv upward difficulty adjustments in a row for 2022.

Correspondingly, the network hash charge per unit is also lingering at higher levels this calendar week, approaching 125 exahashes per 2nd (EH/due south).

The hash rate has recovered extremely well since July and is now simply 40 EH/s away from all-time highs, having added iv EH/due south since last Monday.

Investor and annotator Vince Prince further noted that current levels echo the cursory lows seen subsequently Apr'due south all-fourth dimension highs for BTC/USD. The hash rate and then bounced to striking all-time highs of its ain before the China rout took agree.

"Bitcoin's hash charge per unit is already dorsum to the levels seen in November 2022," an even more optimistic Anthony Pompliano added last week.

"It wouldn't surprise me to run into a new hash rate all-time high by stop of year."
Bitcoin vii-solar day boilerplate hash charge per unit chart. Source: Blockchain.com

Sizing upwards the chances of $fifty,000

What are the odds that a $l,000 onslaught by bulls becomes the defining market characteristic this week?

As Cointelegraph reported, the upcoming U.South. jobs information release on Friday may already seal the deadline for a BTC comeback.

The ingredients to make it happen are already broadly in place — neutral funding rates beyond trading platforms and an increasing supply of stablecoins, this topping $19 billion.

"Since the surge of US$ane.viii billion in a single day on August 24, the accumulated stablecoins on centralized exchanges take exceeded 19 billion for a week," on-chain analytics firm CryptoQuant noted Monday citing data from CoinGecko.

Information technology added that trading volumes for major stablecoins have also increased, in the case of market leader Tether (USDT) past 28% in the past five days.

Charles Edwards, founder of Capriole Investments, meanwhile, noted that Bitcoin'due south decreasing dominance, now at 44%, is itself in a bull trigger-in-waiting.

"This sidelined capital is like rocket fuel for when we start getting daily closes above $50K," he argued.

What could be the sticking betoken? For analyst William Clemente , low volumes remain an issue in the short term.

"If anything has me concerned it's this," he summarized alongside a comparative nautical chart of volume throughout the 2022–21 bull run.

"Where is the demand?"
Bitcoin volume chart. Source: William Clemente Three/Twitter

Eerie calm continues for sentiment

The idea that Bitcoin is facing its "final hurdle" before challenging all-fourth dimension highs is arguably already visible in trader sentiment.

Related: Top five cryptocurrencies to lookout man this week: BTC, ADA, LUNA, VET, XTZ

After BTC/USD added threescore% in weeks, sentiment likewise went from "extreme fear" to "extreme greed" — equally per the Crypto Fright & Greed Index.

At present, as the pace of gains has slowed due to $l,000 resistance, and so likewise has "extreme" feeling given manner to a more moderate "greed" rating on the Index.

August has in fact been mostly stable for sentiment, which the Index has measured at between lxx and 80 for the by 3 weeks.

The ideal bull run combines solid price appreciation with steady sentiment increases — as history has shown, striking the standard height zone of 95/100 on Fearfulness & Greed too quickly coincides with a BTC price sell-off.

Crypto Fear & Greed Index. Source: Culling.me