Bitcoin back over $19000 – What analysts say about pump and could retest the last resistance level of $20,000, according to analysts.
2021 will be crucial for the adoption of Bitcoin, wile its price could rise to $50,000.
Bitcoin has returned to the $19,000 range. In conjunction with the price drop, the market sentiment tended to side with the bears. However, the most recent move has analysts agreeing: Bitcoin is moving towards a new all-time high.
At the time of publication, Bitcoin’s price stands at $19,313 with a 4.23% profit in the last 24 hours. In the weekly and monthly charts, BTC record a gain of 0.4% and 18.1% respectively. The increase in Bitcoin’s price has boosted the entire crypto market, all major cryptocurrencies are in profit except XRP.
Josh Rager is one of the traders who was bullish but also cautious when analyzing the BTC price. In recent weeks, the trader has noticed that BTC is moving in a trend of higher lows.Bitcoin back over $19000 For this reason, he has set $19.385 as a key target for the continuation of the bullish momentum, stating that the cryptocurrency’s behavior proves that “this is a bullish market.”
Bitcoin back above the meme trend line after yet another higher-low on the trend. Looking for a close back above $19,385+. “Buy-the-dip” only works in bull markets and apparently, Bitcoin is showing yet again that this is a bull market.
In a similar tone, Credible Crypto indicated that maintaining support at $17,100 was crucial to reversing the trend. According to him, Bitcoin could try to push the resistance beyond its all-time high to reach $20,500 in the short term, as shown in the image below.
This is why the 17.1k level was so important and one reason why I have maintained my bullishness throughout. Closing the daily below it would have invalidated this hidden bullish div which is now playing out beautifully.