{"id":414396,"date":"2020-02-12T17:00:19","date_gmt":"2020-02-12T17:00:19","guid":{"rendered":"https:\/\/uniquehot.com\/?p=414396"},"modified":"2020-02-12T15:58:33","modified_gmt":"2020-02-12T15:58:33","slug":"new-bitcoin-all-time-high","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/new-bitcoin-all-time-high\/","title":{"rendered":"Only Two Lines of Defense Remain Ahead of New Bitcoin All-Time High"},"content":{"rendered":"

Bitcoin<\/a> price has had a tremendous year in 2020 thus far, rising from lows around $6,800 at the start of the year to well over $10,000 currently.<\/span><\/p>\n

Now that Bitcoin is back above such an important level, only two lines of defense remain between the current price and a new all-time high being set on monthly timeframes.<\/span><\/p>\n

Two Resistance Levels Left Between Here and New Bitcoin All-Time High<\/h2>\n

There\u2019s no denying on daily timeframes that Bitcoin<\/a> price has been looking the most bullish it has been since the April 2019 parabolic rally, or the 2017 bull run before it.<\/span><\/p>\n

But it\u2019s on higher timeframes where Bitcoin looks the most bullish \u2013 across both weekly and monthly time scales. <\/span><\/p>\n

And higher timeframes often are the most dominant in establishing the underlying trend in play.<\/span><\/p>\n

Related Reading | Bitcoin Just Formed a Golden Cross, Restoring Faith in A Crypto Bull Run<\/a>\u00a0<\/strong><\/em><\/p>\n

The recent rally has propelled Bitcoin from lows in the high $6,000 range, to as high as $10,500 overnight in a push to reclaim last year\u2019s highs.<\/span><\/p>\n

Now that Bitcoin has retaken the $10,000 psychological resistance level and flipped it into support, investors bullish on the leading cryptocurrency by market cap only have two remaining lines of defense to get through, before a new all-time high is set.<\/span><\/p>\n

\"bitcoin<\/p>\n

The Last Two Lines of Defense Bulls Need to Break Through Are…<\/h2>\n

Above current levels on monthly timeframes, Bitcoin<\/a> must break above the recent high set in June of last year, at roughly $10,760.<\/span><\/p>\n

Beyond that level, just a mere couple hundred dollars away at this point, Bitcoin price would then have to contend with the monthly high set in December 2017 when Bitcoin set its record for the highest price it ever reached.<\/span><\/p>\n

While the actual Bitcoin all-time high was set at just under $20,000<\/a>, the highest monthly candle close ever recorded was $13,880. <\/span><\/p>\n

If this number looks familiar, it\u2019s just about where Bitcoin<\/a> topped out in late June 2019, proving just how strong the resistance level is.<\/span><\/p>\n

However, if the leading cryptocurrency by market cap can get above that level, the sky is the limit, as the first-ever cryptocurrency would return to price discovery mode, setting a new high after high until the asset tops out once again and the entire cycle repeats.<\/span><\/p>\n

Related Reading | Analyst: Recent Bitcoin Rally Is Only the Start, Retail Will Take it to New Highs\u00a0<\/a><\/strong><\/em><\/p>\n

Breaching the former all-time high price of $20,000 will likely cause extreme FOMO across the crypto market, and potentially lure in new money, resulting in a massive bull run and BTC reaching prices of $100,000 or higher.<\/span><\/p>\n

But it\u2019s all predicated on a strong break of $10,760, and $13,880 \u2013 the two final battlegrounds between bears versus bulls, which will decide the long-term fate of Bitcoin<\/a> and the rest of the cryptocurrency market.<\/span><\/p>\n

Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price has had a tremendous year in 2020 thus far, rising from lows around $6,800 at the start of the year to well over $10,000 currently. Now that Bitcoin is back above such an important level, only two lines of defense remain between the current price and a new all-time high being set on monthly timeframes. Two Resistance Levels Left Between Here and New Bitcoin All-Time High There\u2019s no denying on daily timeframes that Bitcoin price has been looking the most bullish it has been since the April 2019 parabolic rally, or the 2017 bull run before it. But it\u2019s on higher timeframes where Bitcoin looks the most bullish \u2013 across both weekly and monthly time scales. And higher timeframes often are the most dominant in establishing the underlying trend in play. Related Reading | Bitcoin Just Formed a Golden Cross, Restoring Faith in A Crypto Bull Run\u00a0 The recent rally has propelled Bitcoin from lows in the high $6,000 range, to as high as $10,500 overnight in a push to reclaim last year\u2019s highs. Now that Bitcoin has retaken the $10,000 psychological resistance level and flipped it into support, investors bullish on the leading cryptocurrency by market cap only have two remaining lines of defense to get through, before a new all-time high is set. The Last Two Lines of Defense Bulls Need to Break Through Are… Above current levels on monthly timeframes, Bitcoin must break above the recent high set in June of last year, at roughly $10,760. Beyond that level, just a mere couple hundred dollars away at this point, Bitcoin price would then have to contend with the monthly high set in December 2017 when Bitcoin set its record for the highest price it ever reached. While the actual Bitcoin all-time high was set at just under $20,000, the highest monthly candle close ever recorded was $13,880. If this number looks familiar, it\u2019s just about where Bitcoin topped out in late June 2019, proving just how strong the resistance level is. However, if the leading cryptocurrency by market cap can get above that level, the sky is the limit, as the first-ever cryptocurrency would return to price discovery mode, setting a new high after high until the asset tops out once again and the entire cycle repeats. Related Reading | Analyst: Recent Bitcoin Rally Is Only the Start, Retail Will Take it to New Highs\u00a0 Breaching the former all-time high price of $20,000 will likely cause extreme FOMO across the crypto market, and potentially lure in new money, resulting in a massive bull run and BTC reaching prices of $100,000 or higher. But it\u2019s all predicated on a strong break of $10,760, and $13,880 \u2013 the two final battlegrounds between bears versus bulls, which will decide the long-term fate of Bitcoin and the rest of the cryptocurrency market. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":414398,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,679,12672,6664,70701],"class_list":["post-414396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-price","tag-bull-market","tag-crypto","tag-monthly-timeframes"],"acf":[],"yoast_head":"\nOnly Two Lines of Defense Remain Ahead of New Bitcoin All-Time High<\/title>\n<meta name=\"description\" content=\"Only two lines of resistance are left between here and a new Bitcoin all-time high. 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Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/uniquehot.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Only Two Lines of Defense Remain Ahead of New Bitcoin All-Time High","url":"http:\/\/uniquehot.com\/news\/new-bitcoin-all-time-high\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/new-bitcoin-all-time-high\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/02\/bitcoin-all-time-high-shutterstock_67864522.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/02\/bitcoin-all-time-high-shutterstock_67864522.jpg?fit=1000%2C599"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","bull market","crypto","monthly timeframes"],"dateCreated":"2020-02-12T17:00:19Z","datePublished":"2020-02-12T17:00:19Z","dateModified":"2020-02-12T17:00:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Only Two Lines of Defense Remain Ahead of New Bitcoin All-Time High\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/new-bitcoin-all-time-high\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/new-bitcoin-all-time-high\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/02\\\/bitcoin-all-time-high-shutterstock_67864522.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/02\\\/bitcoin-all-time-high-shutterstock_67864522.jpg?fit=1000%2C599\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"bull market\",\"crypto\",\"monthly timeframes\"],\"dateCreated\":\"2020-02-12T17:00:19Z\",\"datePublished\":\"2020-02-12T17:00:19Z\",\"dateModified\":\"2020-02-12T17:00:19Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/02\/bitcoin-all-time-high-shutterstock_67864522.jpg?fit=1000%2C599","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/414396"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=414396"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/414396\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/414398"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=414396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=414396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=414396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}