{"id":449528,"date":"2020-11-11T17:42:17","date_gmt":"2020-11-11T17:42:17","guid":{"rendered":"https:\/\/uniquehot.com\/?p=449528"},"modified":"2024-06-11T14:08:16","modified_gmt":"2024-06-11T14:08:16","slug":"bitcoin-rally-seemingly-unstoppable-revisits-recent-high-around-16k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-rally-seemingly-unstoppable-revisits-recent-high-around-16k\/","title":{"rendered":"Bitcoin Rally Seemingly Unstoppable, Revisits Recent High Around $16K"},"content":{"rendered":"

Bitcoin price<\/a> continues to be propelled higher from aggressive dip buyers looking to ride the new bull market beyond $20K. But first, the cryptocurrency has to get through just under $16K where it was stopped in its tracks just days ago.<\/p>\n

Today, the cryptocurrency is back at the key level and making its third attempt at breaking upward out of what appears to be a bullish ascending triangle pattern. Will the cryptocurrency make it beyond $16K and revisit its previous all-time high?<\/p>\n

Bitcoin Retakes $15,900, Less Than $100 Away From Another New 2020 High<\/h2>\n

After Bitcoin price took out $13,800, in a flash it soared another $2,000 to nearly $16K<\/a> where it was held from advancing further.<\/p>\n

But the bullish momentum still hasn’t reversed and instead has the cryptocurrency already revisiting highs due to dip buyers aggressively buying up what little BTC supply is left on exchanges.<\/p>\n

According to quantitative analysts, there is literally not enough BTC on exchanges<\/a> for buyers, causing a “sell-side liquidity crisis.” More and more users are moving BTC off exchanges to hold in anticipation for the coming bull market.<\/p>\n

Coinciding with this trend, companies like Grayscale and MicroStrategy are scooping up sizable chunks<\/a> of the supply from other avenues, ensuring there is even less to go around.<\/p>\n

\"bitcoin<\/p>\n

Bitcoin is possibly forming an ascending triangle with a target near ATH | Source: BTCUSD on TradingView.com<\/a><\/pre>\n

All this combined has Bitcoin price<\/a> rising and it seems as if nothing can stop it much longer from revisiting $20K where the peak was set nearly three years ago.<\/p>\n

If the leading cryptocurrency by market cap can break up from the ascending triangle<\/a> structure supporting the asset with higher lows, then the target very well could be a new ATH.<\/p>\n

Featured image from Deposit Photos, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"

Bitcoin price continues to be propelled higher from aggressive dip buyers looking to ride the new bull market beyond $20K. But first, the cryptocurrency has to get through just under $16K where it was stopped in its tracks just days ago. Today, the cryptocurrency is back at the key level and making its third attempt at breaking upward out of what appears to be a bullish ascending triangle pattern. Will the cryptocurrency make it beyond $16K and revisit its previous all-time high? Bitcoin Retakes $15,900, Less Than $100 Away From Another New 2020 High After Bitcoin price took out $13,800, in a flash it soared another $2,000 to nearly $16K where it was held from advancing further. But the bullish momentum still hasn’t reversed and instead has the cryptocurrency already revisiting highs due to dip buyers aggressively buying up what little BTC supply is left on exchanges. According to quantitative analysts, there is literally not enough BTC on exchanges for buyers, causing a “sell-side liquidity crisis.” More and more users are moving BTC off exchanges to hold in anticipation for the coming bull market. Coinciding with this trend, companies like Grayscale and MicroStrategy are scooping up sizable chunks of the supply from other avenues, ensuring there is even less to go around. Bitcoin is possibly forming an ascending triangle with a target near ATH | Source: BTCUSD on TradingView.com All this combined has Bitcoin price rising and it seems as if nothing can stop it much longer from revisiting $20K where the peak was set nearly three years ago. If the leading cryptocurrency by market cap can break up from the ascending triangle structure supporting the asset with higher lows, then the target very well could be a new ATH. Featured image from Deposit Photos, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":449529,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,78790,6664,4524,76835],"class_list":["post-449528","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Rally Seemingly Unstoppable, Revisits Recent High Around $16K<\/title>\n<meta name=\"description\" content=\"Bitcoin price continues to be propelled higher from aggressive dip buyers looking to ride the new bull market beyond $20K. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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":"Bitcoin Rally Seemingly Unstoppable, Revisits Recent High Around $16K","url":"http:\/\/uniquehot.com\/news\/bitcoin-rally-seemingly-unstoppable-revisits-recent-high-around-16k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-rally-seemingly-unstoppable-revisits-recent-high-around-16k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/11\/bitcoin-unstoppable-Depositphotos_107106952_xl-2015-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/11\/bitcoin-unstoppable-Depositphotos_107106952_xl-2015-scaled.jpg?fit=2560%2C1707"},"articleSection":"Cryptocurrency Market News","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","btc","btcusd","btcusdt","crypto","xbt","xbtusd"],"dateCreated":"2020-11-11T17:42:17Z","datePublished":"2020-11-11T17:42:17Z","dateModified":"2024-06-11T14:08:16Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Rally Seemingly Unstoppable, Revisits Recent High Around $16K\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-rally-seemingly-unstoppable-revisits-recent-high-around-16k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-rally-seemingly-unstoppable-revisits-recent-high-around-16k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/11\\\/bitcoin-unstoppable-Depositphotos_107106952_xl-2015-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/11\\\/bitcoin-unstoppable-Depositphotos_107106952_xl-2015-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Cryptocurrency Market News\",\"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\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2020-11-11T17:42:17Z\",\"datePublished\":\"2020-11-11T17:42:17Z\",\"dateModified\":\"2024-06-11T14:08:16Z\"}<\/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\/11\/bitcoin-unstoppable-Depositphotos_107106952_xl-2015-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/449528"}],"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=449528"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/449528\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/449529"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=449528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=449528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=449528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}