Bitcoin (BTC) returns to $ 18,000 today, November 19, 2020; the bulls face the sellers there for a lasting conquest of this area. BTC must break the last major resistances before a new ATH: the 18,500 USD and the 500 billion USD.
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We consolidate the 18,000 USD
Bitcoin made a foray above $ 18,030 earlier in the day today. The BTC There, there was selling pressure that knocked it down in 8 hours to $ 17,390.
The price of Bitcoin then rose sharply and broke above the $ 18,130 mark. It is trading at $ 18,005 as of this writing.
The rise of BTC towards a new ATH was halted by the resistance of $ 18,500 on November 18, 2020. The rejection dropped its price below $ 18,000.
Bitcoin approaches $ 20,000 as data from Glassnode show that the number of new addresses BTC recorded per hour reached nearly 25,000 units on November 18, 2020, for the first time since January 2018.
A 75% rally in less than 3 months
Michael van de Poppe shared on Cointelegraph its analyzes and forecasts of possible changes in the price of BTC in the short term.
He indicates that the bulls were able to defend the 17,200 USD, the 20,000 USD is still within range of the bulls.
Yes Bitcoin underwent a major correction before $ 20,000, the levels to watch would then be $ 16,000, then $ 13,500, and finally $ 11,600.
The market capitalization of Bitcoin approaching one last hurdle to overcome before another ATH. The market cap of BTC is now facing the $ 500 billion resistance line.
The BTC has increased by approximately 75% since September 2020, from $ 10,500 to $ 18,400.
The climb to $ 20,000 is certainly rapid, but it is punctuated by corrections and recoveries that put support on the road from BTC to a new ATH. The bulls must now make a final effort to break through the remaining areas of resistance. An explosion in the adoption rate nearing $ 20,000 should help reach a new all-time high, but also protect BTC from a steep drop once that target is reached.
Litecoin, welcome in the Silver Age