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Tuesday, October 19, 2021

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BTC price hits $ 48,000 with little resistance remaining before retesting of the $ 50,000 level

Bitcoin (BTC) quickly returned to the $ 48,000 level during September 15, as The BTC / USD pair continued on the path to a retest of $ 50,000.

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

Bitcoin Targets $ 50,000

Data from Cointelegraph Markets Pro and TradingView tracked the largest cryptocurrency as it broke through thin resistance above $ 47,000 to settle at psychologically significant higher levels.

Passing the $ 47,000 level was a substantial gain for the bulls, and resistance then moved towards the $ 50,000 mark, an area that should be next.analysts say.

“Right now, we are seeing a possible breakout above the high range,” said Cointelegraph contributor MichaĆ«l van de Poppe in his latest YouTube update earlier that day.

Van de Poppe revealed that he was not sure a breakout would occur at this stage, but if it did, a retest of $ 50,000 would be “quite significant.”

“That’s the last hurdle before we have a new all-time high, in my opinion.”he added about changing course and retesting the $ 50,000 level for support.

A look at the latest buy and sell positions on major exchange Binance confirmed the growing wall of resistance beyond the $ 40,000 to $ 50,000 corridor.

BTC / USD (Binance) buy / sell levels as of September 15. Source: Material Indicators

Polkadot cools his earnings with the return of Cardano

Altcoins were also in a generally celebratory mood on Wednesday, with Cardano (ADA) and Binance Coin (BNB) both seeing gains in excess of 6%.

The top two performing tokens in the top ten cryptocurrencies overshadowed the previously bullish Polkadot (DOT), which conversely lost 4% on the day.

DOT / USD (Kraken) 1-hour candlestick chart. Source: TradingView

The largest altcoin Ether (ETH) was up 3% to close to $ 3,500.

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Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: Tammy@oicanadian.com Phone: +1 513-209-1700

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