The price of the leading cryptocurrency Bitcoin [BTC] hits over $15,600 USD for the primary time since early January 2018 today on 6th Nov. as crucial support held at $15,500 USD.
Data from Coinmarketcap & TradingView reveals that Bitcoin’s gains continuing in Thursday trading, amid market tension over the United States election result.
At the reporting time, highs of $15,560 USD had appeared on major exchange Bitstamp, with BTC/USD subsequently returning to fluctuate around $15,500 USD amid volatile conditions.
Daily gains for the pair stood at 4.15% as election turmoil produced solid gains for both Bitcoin [BTC] and traditional safe-haven gold.
Additionally, Markets analyst Keith Wareing identified a critical resistance level to beat so as to seal Bitcoin’s path higher.
“Waiting for Bitcoin to interrupt $15,300 USD or get rejected. On behalf of me this is often the extent to urge passed before a comparatively clear run to $17K,” he summarized late Wednesday.
However, subsequent major resistance now appears to be at $15,600 USD, as are often seen within the order book heatmap below.
“Something I’m watching here on the 1-hour timeframe on the Bitcoin chart,” popular social media trader “The Moon” tweeted earlier today, continuing:
“If we break $15,000 USD, then we could see another huge candle to the upside.”
As reported earlier, analysts widely agreed that Bitcoin would be in line for significant gains should $15,500 USD flip from resistance to support.
The level had held since the first days of 2018 – just after BTC/USD railed to all-time highs of $20k – and have become the resistance level that capped Bitcoin’s 2019 rally.