Bitcoin (BTC) breaks last resistance ahead of new ATH today, November 20, 2020. Euphoric sentiment in the markets can now do the rest of the work. BTC continues to have strong institutional support with a Grayscale that bought massive amounts of Bitcoin in just 1 day.
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We jump the last dam
Bitcoin climbed above $ 18,800 today. It is trading at $ 18,630 as of this writing.
The BTC Currently registers a daily gain of approximately 3.75%, which represents a daily profit of over $ 670.
The BTC breaks through the last major resistance zone at the $ 18,500 level before further ATHs, as theEther (ETH) crosses $ 500, the first time since June 2018.
Will breaking through this resistance remove the temptation of some bitcoiners – and especially whales – to sell their BTC before it hits $ 20,000? The steps BTC should be optimistic after the impetus of Bitcoin above USD 18,500.
A peek in the rearview mirror before the $ 20,000
Bitcoin It’s down to $ 1,200 – $ 1,400 of $ 20,000. The last few miles can now be flown quickly if today’s impulse causes a massive influx of new buyers.
Bitcoin has benefited from the support of institutional investors on its road to $ 20,000 since October 2020.
The general manager of Grayscale, Michael Sonnenshein, announced on Twitter the massive acquisition of more than $ 188 million in Bitcoin, November 19, 2020.
The announcement of PayPal the upcoming launch of its crypto services was an important lever at the origin of the current bullish rally.
The road to $ 20,000 was punctuated by pauses and corrections, creating intermediate supports on which the BTC leaned on to break resistance.
It’s the weekend but during the bull run, no respite for the bulls! Bitcoin may very well cross its current ATH tomorrow or in 2 days. The more cautious continue to fear a big pullback due to a correction before the 20,000 USD. But BTC is now being driven by optimism in the markets after BTC broke above $ 18,500. It only takes one institutional investor to follow Grayscale’s path to set off another parabolic ascent. The bulls could then run well over $ 20,000.
Litecoin, welcome in the Silver Age