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