Bitcoin ATH – History in the Making!

December 18, 2020

Bitcoin $25,000 is Right Round The Corner

By Bog& Giulvezan

We possess a early Whol Metre High! Bitcoin is looking like a skyrocket once more, speeding through $20,000 and trading at $23,100 at the time of committal to writing. Antitrust to put things in perspective, this Butt against it was trading around $3,000, and many were calling it dead! But if story taught us something is that Bitcoin posterior "die" many times, but to rejoin stronger.

Fun fact: the high All Time High was reached on December 17, 2017, and the new ATH was reached on December 17, 2020, exactly three years later. Well, December 18^Th is not terminated yet, thus Bitcoin still has time for a young ATH. Thoughtless if that happens or not, the Crypto Winter is over and the "To The Moon!" party is in full swing. But – yes, the ever-present "but" – remember history: passim the big 2017 climb, people were mortgaging their houses to buy Bitcoin. That didn't work out so well! Never forget that what goes up must come pour down. At this item, we have two scenarios that may play out:

The introductory scenario is bullish and is triggered by FOMO (Fear Of Missing Out). In that scenario, seeing the recent BTC explosion, more investors and retail clients will first (or continue) to bargain Bitcoin because they don't want to see the rocket go higher without them being aboard. The Thomas More people buy up BTC, the high information technology goes.

The second scenario is bearish and is the result of a cautious approach. The people who bought near the 2017 peak have probably learned their lesson and could possibly sell straight off, while prices are in flood. This also applies to the great unwashe who bought during the 2020 acclivity – they debate they've made enough profit and decide to cash impossible and get something nice for Christmas. If this happens, Bitcoin's price will likely go polish temporarily.

Chart Analysis – BTC/USD

After breakage the resistance zone between $19,500 and $20,000, Bitcoin literally took off and touched straight up, presently trading above $23,000, after reaching an all-time high schoo at $23,539 according to information from CoinMarketCap.

The MACD is moving up, with lines bedspread apart, which indicates very strong bullish momentum and suggests that BTC Crataegus oxycantha continue to appreciate. The RSI is also moving functioning, but it has entered overbought soil (above 70), which is an early warning sign up that a pullback may presently follow. However, keep in idea that last time when the RSI was overbought, price still climbed for finished a calendar month, so we cannot simply assume that price will come pull down immediately, sportsmanlike because RSI is overbought.

The Daily candles look very bullish and support the idea of a continued ascent, just once we start out seeing long wicks, conjunct with other signals (indicators, news, rumors, etc.), we should know that a retracement is approaching. For forthwith, the levels to sentry are $20,000 as major support, $25,000 as major resistance, and completely big round numbers pool in-betwixt equally latent S/R.