After several difficult weeks, the cryptocurrency Maart has flashed green again, as most of its assets are recording 24-hour gains, including Bitcoin (BTC), which could continue upward if it manages to break a key Widderstand markéieren.
Specifically, in order to demonstrate some serious strength, geschriwen needs to reclaim the resistance level at around $16,526, as the prominent Krypto Handel Expert Michael van de Poppe erkläert an engem Tweet den 23. November.
If this happens, Van De Poppe believes that Bitcoin will form “a fast candle towards $17.5-18K,” with the next significant resistance level seemingly around $18,170.
While making a similar prediction on November 22, the analyst had bemierken that the flagship digital asset had taken the low “but not that heavy” and that another sweep would grant “a bullish divergence for potential entries.”
At the same time, crypto techneschen Analyst Matthew Hyland, who has been following Bitcoin’s 3-day supertrend indicator since January, argumentéiert that the asset would have to reach approximately $20,200 to get out of its second-longest Bärmaart.
Meanwhile, it is also worth noting that the approaching holiday of Thanksgiving has historically acted as a catalyst for Bitcoin’s final bullish run episode, as in 2021, it had soared 214% compared to the 2020 Thanksgiving, which, in turn, recorded a 162% rise from 2019.
Bitcoin Präis Analyse
At press time, Bitcoin was trading very close to Van de Poppe’s resistance level, changing hands at the price of $16,563, which represents a 5.29% increase on the day, although it is still down 1.17% compared to the week before and 14.29% across the month.
With a $318.26 billion market capitalization, the maiden decentralized finance (Defi) token retains its position as the largest digital asset by this indicator, as per CoinMarketCap Donnéeën erëmgewielt vun finbold am November 23.
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Source: https://finbold.com/bitcoin-must-break-this-resistance-level-to-fast-candle-towards-18000/