Why New Highs May Be Imminent For Bitcoin if $16,150 is Reclaimed

2020-11-16 02:00

Bitcoin has begun to slide lower over the past few days as selling pressure has tapered off at the $16,500 highs. The leading cryptocurrency currently trades for $15,900, a few percent below those highs but still situated above key support levels.

Analysts remain optimistic despite the downward-sloping price action. One trader says that if the cryptocurrency can move to new year-to-date highs and multi-year highs if it manages to close above $16,150 on a short-term basis.

That level has been important for the cryptocurrency over the past few days, marking local bottoms.

Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Bitcoin Could Move to $16,600 And Beyond if This Level Is Confirmed as Support

Bitcoin managing to flip $16,150 into a support level will likely mean the cryptocurrency pushes to new trend highs at $16,600 and beyond, a trader recently said.

He shared the chart below recently, which shows that the level has been important for Bitcoin, marking two short-term bottoms over the past few days:

“$BTC – Highs are looking ripe for the taking. A move to $16.6k should take care of that. Further confirmation on a reclaim of $16,150.”

Chart of BTCs price action over the past 10 days with an analysis by crypto trader "UB" (@CryptoUB on Twitter). Source: BTCUSD from TradingView.com Related Reading: Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin Long-Term Trend Positive for BTC

The long-term trend of Bitcoin remains positive as the fundamental trends still favor long-term growth. Robert Kiyosaki, the author and entrepreneur behind the book “Rich Dad Poor Dad,” recently said:

“Bitcoin boom beating gold and silver. What does that mean? It means you better buy as much as you can now. Train is moving. Dollar dying. Silver still affordable for everyone. As dollar crashes what counts is not price but how many coins of gold, silver, or Bitcoin you own.” 

Tyler Winklevoss, CEO of Gemini and a Bitcoin billionaire has echoed this. Winklevoss thinks that the vast amount of money printing taking place due to the lockdowns will result in a rally in the price of gold and Bitcoin. He thinks that the leading cryptocurrency will outpace the precious metal due to it having arguably more scarce properties.

Winklevoss thinks that Bitcoin could hit $500,000 in this market cycle due to fundamental trends. This would give the cryptocurrency a market capitalization higher than that of gold.

Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Why New Highs May Be Imminent For Bitcoin if $16,150 is Reclaimed

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 68890.14 (+0.23%)
Объем 24H $41.74b
Изменеия 24h: 0.20 %, 7d: -3.62 %
Cегодня L: $66916.68 - H: $68910.37
Капитализация $1362.51b Rank 1
Цена в час новости $ 15985.86 (330.94%)

highs bitcoin trades 500 currently cryptocurrency leading

Источник: newsbtc.com

highs bitcoin → Результатов: 126


Risk-On Sentiment Sends Crypto & Stock Market to New All-Time Highs as Bitcoin Holds the Line

“60k is merely a psychological resistance” as BTC miners accumulate, on-chain activity gives “strong vote of confidence,” futures premium rises, dollar slides, and OI keeps above $22 billion. The post Risk-On Sentiment Sends Crypto & Stock Market to New All-Time Highs as Bitcoin Holds the Line first appeared on BitcoinExchangeGuide.

2021-4-6 18:01


Coinbase Whales Keep Buying Bitcoin as Price Rockets to New All-Time Highs

Bitcoin is in the process of consolidating after the cryptocurrency saw a push to all-time highs last night, which led it as high as $36,000 This movement came about suddenly and was quite surprising, but it didn’t last for long The rejection at these highs was not too grave, as BTC has been able to find some strong support within the lower-$34,000 region ever since There’s a strong possibility that it will consolidate here, as […]

2021-1-7 21:00


Фото:

Bitcoin “Bear Whales” Show Signs of Exhaustion as Analysts Eye Upside

Bitcoin’s price has been fairly stagnant throughout the past few days, with its recent rejection at highs of $28,500 kicking off a short-term consolidation phase Where the crypto trends in the mid-term may depend largely on whether or not bulls can invalidate these highs as a potential “blow-off top” There has been speculation that the swiftness of the rally and rejection confirmed the bear-favoring pattern, but BTC’s resilience in the time since is a promising […]

2020-12-29 21:00


Фото:

$800m Liquidated: Bitcoin’s Rally to All-Time Highs Leaves Trail of Bear Blood

Bitcoin saw some potent price action yesterday, with bulls sending it rallying from the mid-$20,000 region to highs of $23,700 The selling pressure here proved to be quite significant and slowed its growth, but the cryptocurrency does appear to be poised to see further upside One analytics firm explained in a recent tweet that a massive onslaught of short-sided liquidations fueled this movement Over the past few days, over $1 billion in short positions have […]

2020-12-18 21:00


There’s Only Two Resistances Left Before Bitcoin Sets Fresh All-Time Highs

Bitcoin has seen unprecedented volatility throughout the past few days, with its ascent reaching a boiling point last night when bulls stepped up and sent it flying to highs of $18,600 The selling pressure here was quite intense and rapidly caused it to see a selloff Within a mere matter of minutes, its price declined from highs of $18,600 to lows of $17,400, with the support here sparking a sharp rebound It has since stabilized […]

2020-11-19 02:00


Litecoin [LTC] – Will the Support Area Hold, or Is There Another Drop in Store?

A look at the logarithmic Weekly chart shows us that price has fallen all the way into the $20-$25 area of support created by the highs of 2014. There is a substantial amount of support here. If price were to break down below $20, the next level of support would be in the $3-$5 area, […] Litecoin [LTC] – Will the Support Area Hold, or Is There Another Drop in Store? was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-12-13 16:34


Фото:

AMZN! $4K Bitcoin Still Historically Outperforming Amazon Stock

Bitcoin price held above $4000 November 29 as talk turns to the cryptocurrency’s continuing appeal over major stocks such as Amazon in recent years. BTC Still Beats Amazon Even at $4K After a dip to lows around $3500, something not seen in over a year, Bitcoin managed to reclaim and hold onto the $4000 mark Wednesday, hitting local highs of $4339 before correcting closer to $4190.

2018-11-29 13:00


Bitcoin Bottoming Under $3,000 BTC/USD? Does Institutional Interest Hold Any Weight For Bull Run Return?

While we can easily associate 2018 with seeing one of the biggest bearish downturns for cryptocurrency, the latest drop has been both drastic and unprecedented. So far, it has seen a large percentage of altcoins trading at or below 90% of their value compared to their previous highs. The likes of Bitcoin are not exempt […]

2018-11-26 15:53


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Takes a Sharp Dip: Is This Just a Correction?

Bitcoin price is correcting gains from the $73,500 zone. BTC is back below the $70,000 level and showing a few bearish signs. Bitcoin started a fresh decline from the $73,500 zone. The price is trading below $71,500 and the 100 hourly Simple moving average.

Bitcoin Price Nears All-Time High: Can It Push Past the Mark?

Bitcoin price is rallying above the $72,000 zone. BTC is up over 5% and it could soon aim for a new all-time high above $73,500. Bitcoin started a fresh increase above the $70,000 zone. The price is trading above $70,500 and the 100 hourly Simple moving average.

Bitcoin Price Rallies Above $70K: Is a New High Within Reach?

Bitcoin price is rallying above the $70,000 zone. BTC is up over 5% and it could soon aim for a move above the $72,000 resistance zone. Bitcoin started a fresh increase above the $68,000 zone. The price is trading above $70,000 and the 100 hourly Simple moving average.

Bitcoin Price Targets Gradual Rise: Will the Uptrend Hold?

Bitcoin price is attempting a fresh increase above the $67,000 zone. BTC could gain pace if it clears the $68,750 resistance zone. Bitcoin started a fresh increase from the $65,500 zone. The price is trading above $67,200 and the 100 hourly Simple moving average.

Bitcoin Price Eyes Further Gains: Can It Keep Climbing?

Bitcoin price is attempting a fresh increase above the $37,000 zone. BTC could gain pace if it clears the $68,800 resistance zone. Bitcoin started a fresh increase from the $65,200 zone. The price is trading above $67,500 and the 100 hourly Simple moving average.

Bitcoin Price Could Reignite Uptrend: Is a New Surge Coming?

Bitcoin price tested the $65,200 zone before the bulls appeared. BTC is now rising and aiming for more upsides above the $67,500 resistance. Bitcoin extended losses and tested the $65,200 zone. The price is trading below $67,500 and the 100 hourly Simple moving average.