Bitcoin Trading Near $15k - Market Analysis & Price Predictions.

Bitcoin Trading Near $15k - Market Analysis & Price Predictions.

2020-11-05 | Big Bob

Bitcoin Trading Near $15k - Market Analysis & Price Predictions.

The price of the leading cryptocurrency Bitcoin [BTC] hits over $14,900 USD for the primary time since early January 2018 today on 5th Nov. as crucial support held at $14,500 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 $14,560 USD had appeared on major exchange Bitstamp, with BTC/USD subsequently returning to fluctuate around $14,800 USD amid volatile conditions.

Daily gains for the pair stood at 6.5% 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 $14,600 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 $14,600 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 $14,500 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.

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