Bitcoin is leaving naysayers behind in classic bull run style, with BTC’s price arriving at multi-year resistance.
1981 Total views 17 Total shares Listen to article Bitcoin (BTC) clipped $44,000 later on Dec. 5 as the Wall Street trading session delivered more snap BTC price gains. Data from Cointelegraph Markets Pro and TradingView followed a fresh round of upside for Bitcoin as it outpaced altcoins to reach $44,011 on Bitstamp. Taking week-to-date gains to 10%, this marked its highest levels since early April 2022 and represented a key challenge to significant resistance. As noted by popular trader and analyst Rekt Capital, $44,000 constitutes the high point of a range that has occurred several times since early 2021. “Bitcoin has successfully revisited the Range High resistance at ~$43900,” he continued in subsequent commentary on X (formerly Twitter).
Bitcoin applies more pressure to bears
Pretty much the final boss for #BTC in this range for the RSI
If we get a God Candle like I said originally or just continue to grind upward as we have been; it would likely clear this on the RSI and the Price, which would open the door for much higher prices after this month… https://t.co/GYlQO1BJA8 pic.twitter.com/0yWh5q17kA
— Matthew Hyland (@MatthewHyland_) December 1, 2023
The daily RSI nonetheless stood at 80 at the time of writing — 10 points into the range, which can suggest overbought conditions.
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