Bitcoin (BTC) tackles the resistance at $ 19,400 – $ 19,600 that gave it a hard time and caused the loss of $ 19,000. There are some disturbing scenarios but also bearers of hope. Should we bet on a significant decline or on a new ATH this week?
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We continue to sell there
Bitcoin climbed above $ 19,550 as of today, December 15, 2020. The BTC attempted to break through the resistance zone of $ 19,400 – $ 19,600 without success.
The rejection brought down the BTC to the level of 19,115 USD before rising again. Bitcoin is trading at $ 19,554 as of this writing.
The daily RSI (14) currently stands at 61. The price of BTC must stay above $ 19,500 in order to truly give the bulls daily control of the markets.
With the strong selling pressure at the 19,400 USD – 19,600 USD level, the price of BTC risk either of stagnating in the area of 19,000 USD – 19,600 USD, or of losing the 19,000 USD with a risk of falling below 18,000 USD at first, then to the level of 16,000 USD thereafter .
Bis repetita: on the eve of a new historic high?
Bitcoin closed the last 3 days with a green candlestick. It is also expected to end today in the green, barring a strong rejection from the current resistance attack at $ 19,400 – $ 19,600.
Bitcoin is approaching its closing level of November 30, 2020. Is this a sign of the possibility of a new ATH, the BTC having reached a new all-time high on December 1, 2020?
The hypothesis of a new parabolic rise if Bitcoin managed to finally cross the 20,000 USD, still remains on the table.
Breaking the 19,400 USD – 19,600 USD and then turning them into supports to be able to cross the 20,000 USD: it is not won! BTC can also surprise with a burst of pumping that would allow it to quickly reach new ATH. Despite today’s rejection of the first $ 19,500 attack, the bulls managed to defend the $ 19,000. The bears stand in the way, but the bulls seem to have enough strength to cope with the shock of ascension.
Litecoin, welcome in the Silver Age