Just yesterday the Bitcoin price sentiment was starting to turn bearish as markets began to cool off. Many of the top analysts on crypto twitter had hinted at further losses as BTC posted lower highs. Today it has surged back in an epic 11% pump back towards $13,000.
Bitcoin Price Bears Bashed Again
BTC had been consolidating around $11,500 since recovering from its dip into four figures early last week. That range bound action finally broke during early Asian trading this morning when Bitcoin price broke through resistance and traded north of $12,000.
The king of crypto did not stay there and made a big push up to a new 13 day high of $12,880 according to Tradingview. It is the highest price Bitcoin has attained since June 27 when it slid down from that peak just $900 higher.
A new 2019 high could be imminent if Bitcoin price can close above the previous two daily candles at $12,950. Trader and analyst Josh Rager, who said yesterday’s weekly close was bearish, has changed his tune today as BTC continues to defy the markets.
“With lower-highs on the 4 hr chart, I’d look to lean bearish as we start the week”
“Fool me once, shame on you… Fool me twice, shame on me. No way was I shorting Bitcoin after a close under the resistance again. Not much stopping this train, just minor daily & weekly resistance left until new yearly highs.”
Fool me once, shame on you… Fool me twice, shame on me
No way was I shorting Bitcoin after a close under the resistance again
Not much stopping this train, just minor daily & weekly resistance left until new yearly highs pic.twitter.com/81Fy43HJZw
— Josh Rager Read more