The bitcoin price hit a lot, especially in early 2020 and September, and the price dropped significantly in both March and September. The BTC / USD trading pair, which saw $ 3,700 in March, albeit temporarily, fell below $ 10,000 several times in September. However, BTC, which is on the rise in the continuation of this, is literally “swimming in the tail” of the real bull era, according to a known crypto money analyst.
The BTC / USD parity, which increased to $ 2,000 and above and exceeded $ 13,000 in a short time, encountered resistance at $ 13,800. The decline to the $ 13,000 support on October 28 also shows how strong the 13,800 resistance is. However, according to press time, the price started to pick up again and the $ 13,500 resistance was also broken.
$ 16,000 Critical For Bitcoin Price
Ghosty (PostyXBT), a well-known cryptocurrency analyst, thinks one last thing is needed before the $ 16,000 record hits. In the chart he published, the analyst stated that BTC’s last resistance point before $ 20,000 was at $ 16,000. While it is uncertain whether this will be retested, Ghosty thinks there could be a rise here after a recent drop.
Stating that it would not make sense to open a short position in such a rise, the analyst spoke hopeful about the Bicoin price.
Rejected at 2019 highs for now.
It's not certain that #BTC gives this retest, but I'm hoping we see this pull back over the coming weeks.
A trending Bitcoin could easily continue to rip with no retest. Wouldn't attempt to short this, just buy the retest if it comes. pic.twitter.com/YIvB3tQn4r
— Posty (@PostyXBT) October 29, 2020
However, with the $ 800 million shockwave on Friday, Bitcoin price could completely lose direction and decline.