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Hardly any resistance up to $ 50,000

Bitcoin (BTC) climbed back above $ 48,000 on September 15. The BTC / USD pair continues to attempt a retest of $ 50,000.

BTC / USD 1-hour candle chart (Bitstamp). Source: TradingView

Bitcoin is marching towards $ 50,000

Data from Cointelegraph Markets Pro and TradingView show that the largest cryptocurrency has broken the thin resistance above $ 47,000 and is now tackling psychologically important higher levels.

The bulls clinched a major victory with the $ 47,000 breakout. The resistance is now on the way to the $ 50,000 mark, analysts say.

“At the moment there could be a potential breakout above the high within the range,” said Cointelegraph employee MichaĆ«l van de Poppe in his latest YouTube update.

Van de Poppe said he was unsure if there would be an outbreak. But if that happens, retesting the $ 50,000 mark would be “pretty significant”.

“This is the final hurdle before an actual new all-time high, I think,” he added.

Looking at the buy and sell positions on the major Binance exchange, the growing resistance behind the corridor between $ 40,000 and $ 50,000 is confirmed.

BTC / USD long and short positions on Binance as of September 15th. Source: Material Indicators

Polkadot shows smaller increases: Cardano is making a comeback

The altcoins were also in a celebratory mood on Wednesday. Cardano (ADA) and Binance Coin (BNB) recorded over 6 percent growth.

In this context: Reason to celebrate: Bitcoin has now been over $ 10,000 for a year

The two have had the best performance among the top 10 cryptocurrencies. They even stole the show from the previously very strong polkadot (DOT). This recorded a minus of 4 percent over the course of the day.

DOT / USD 1-hour Kraken candlestick chart. Source: TradingView

The largest altcoin, Ether (ETH), was able to climb 3 percent towards $ 3,500.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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