• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Sensei Inu Logo Sensei Inu Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Breaking News: Breaking: Bitcoin Repayment Plan Gets New Deadline From Mt. Gox Trustee
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Bitcoin Repayment Plan Gets New Deadline From Mt. Gox Trustee
Ethereum

Bitcoin is on the Brink of Seeing a Rally to All-Time Highs as It Taps Critical Level

Cole Petersen by Cole Petersen
3 years ago
in Bitcoin
0
  • Bitcoin has seen some relatively lackluster price action throughout the past few days and weeks, with the crypto’s price being unable to surge as it inches towards its $40k resistance
  • This has come as its smaller counterparts all see massive momentum, with ETH seeing a monumental rally while many smaller altcoins also surge
  • BTC’s lack of intense upside has come about due to the intense selling pressure it has been facing within the upper-$30,000 region, with selling pressure from large whales and investors stunting its growth
  • Where the cryptocurrency trends in the mid-term will undoubtedly depend on its continued reaction to its overhead resistance
  • One analyst believes that there’s a strong possibility it breaks this level in the near-term, which could lead to fresh all-time highs

Bitcoin and the entire crypto market are seeing mixed performance. While BTC stalls and struggles to break above its resistance in the upper-$30,000 region, Ethereum and many altcoins see explosive rallies.

This has made it somewhat unclear as to what BTC’s near-term fate is.

One analyst observed that the benchmark cryptocurrency is on the cusp of seeing a movement to fresh all-time highs, but it must first surmount one crucial resistance level.

Bitcoin Struggles to Gain Momentum as Resistance Holds Strong 

At the time of writing, Bitcoin is trading up just over 1% at its current price of $37,150. This marks a massive rebound from recent lows of $30,000 that were set last week.

The crypto has formed a wide trading range between these lows and its highs of roughly $40,000.

Until BTC breaks above its range highs at $40,000, it may continue seeing relative consolidation.

Analyst Claims BTC Could Be on the Cusp of Move to New Highs

One analyst explained in a recent tweet that a close above one key Fibonacci level could allow Bitcoin to rally to fresh highs.

BTC is pushing up against this level; however, a rejection could lead it towards the sub-$30,000 region.

“Close above .618 – target all time highs. Close below the mid and grey zone 34k then most probable of the yearly level retest around 28-29,” he said while pointing to the below chart.

Bitcoin

Image Courtesy of Trader XO. Source: BTCUSD on TradingView.

The coming few days should provide investors with detailed insights into Bitcoin’s mid-term trend and how it will influence other digital assets.

Featured image from Unsplash.
Charts from TradingView.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Bitcoin

Bitcoin Dominance Returns Above 50% As Altcoins Encounter Resistance

2 days ago
Bitcoin

Get Ready For Bitcoin’s Next Surge: Analyst Believes ‘This Is The Beginning’

3 days ago
Bitcoin

Bitcoin Miners Lead In Clean Energy Adoption, Surpassing 50%

6 days ago
Bitcoin

Bitcoin Critique: ‘Black Swan’ Author Courts Controversy With Provocative Take

6 days ago
Death cross bitcoin

Dreaded Bitcoin Death Cross Returns: Here’s What Happened The Last Time

6 days ago
Bitcoin

Bitcoin Advantage: How It Stands Out Amidst Rising Interest Rates, According To This Analyst

7 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit

Press Releases

  • VeChain (VET), Avalanche (AVAX), Polkadot (DOT) Enter...

    3 hours ago
  • Litecoin (LTC), Bitcoin (BTC), and Chainlink (LINK)...

    3 hours ago
  • Is Bitcoin still a good choice for investing? – New...

    3 hours ago
  • From DogeCoin (DOGE) Resilience to Samoyedcoin (SAMO)...

    15 hours ago
  • The Big Three: Borroe.Finance, BNB & XRP Creating...

    16 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.