HomeCryptoBTC price hits $48K with little resistance left before $50K retest

BTC price hits $48K with little resistance left before $50K retest

Bitcoin (BTC) shortly returned to $48,000 throughout Sept. 15 as BTC/USD continued on the trail to a $50,000 retest. 

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

Bitcoin takes purpose at $50,000

Data from Cointelegraph Markets Pro and TradingView tracked the biggest cryptocurrency because it beat out skinny resistance above $47,000 to zone in on psychologically vital greater ranges.

Passing $47,000 was a considerable acquire for bulls, with resistance then shifting up in the direction of the $50,000 mark, an space which ought to come subsequent, analysts say.

“Right now, we are looking at a potential breakout above the range high,” Cointelegraph contributor Michaël van de Poppe stated in his newest YouTube replace earlier on the day.

Van de Poppe revealed that he was unsure a couple of breakout taking place at this stage, but when it had been to occur, a $50,000 retest could be “pretty significant.”

“That’s the final hurdle before we’re going to have an actual new all-time high, in my opinion,” he added about flipping then retesting $50,000 as assist.

A take a look at the newest purchase and promote positions on main change Binance confirmed the rising resistance wall past the $40,000–$50,000 hall.

BTC/USD purchase/ promote ranges (Binance) as of Sept. 15. Source: Material Indicators

Polkadot cools features as Cardano returns

Altcoins had been additionally in a broadly celebratory temper Wednesday, with Cardano (ADA) and Binance Coin (BNB) each seeing features in extra of 6%.

Related: Bitcoin has now been above $10K for a complete 12 months

The finest performers within the prime ten cryptocurrencies, the 2 tokens outshined the beforehand buoyant Polkadot (DOT), which conversely misplaced 4% on the day.

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

Largest altcoin Ether (ETH) added 3% to close $3,500.