Bitcoin price has had an enormous year in 2020 so far, from the low levels at the beginning of the year, it has now risen from $ 6,800 to over $ 10,000.
Now that Bitcoin has risen above such a significant level, only two lines of defense remain between the current price and the all-time high in monthly time frames.
Two Resistance Levels Here and Between New Bitcoin All-Time High
In daily time frames, there is no denying that Bitcoin price has had the highest rise since the April 2019 parabolic rally, or that the 2017 bull was running before it.
However, at high time intervals, where Bitcoin is most bullish on both weekly and monthly time scales.
And higher time periods are often the most dominant in determining the underlying trend of the game.
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The last rally is $ 10,500 overnight to get back the highest levels of last year, from the lowest levels at the highest level of $ 6,000 to Bitcoin. A raised.
Now Bitcoin has regained and supported the $ 10,000 psychological resistance level, when the biggest cryptocurrency in the market was on the rise, only two lines of defense remained before the all-time high was set.
The Last Two Defense Bullets Should Be Overcome …
Above the current levels in monthly time frames, Bitcoin should rise above the last high level of about $ 10,760 in June of last year.
Beyond this level, just a few hundred dollars away at this point, Bitcoin price will have to struggle with the monthly highest set, which broke the record for the highest price Bitcoin reached in December 2017.
Real Bitcoin all-time high is just under $ 20,000The highest monthly candle closure ever recorded is $ 13,880.
If this number sounds familiar, it proves where Bitcoin was in late June 2019 and how strong the resistance level is.
However, if the leading cryptocurrency with its market value can go above this level, the first limiting currency will return to price discovery mode, it is a limit value and asset once again and the entire loop repeats.
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Violating the all-time high price of $ 20,000 will result in excessive FOMO in the crypto market and potentially draw new money and result in a big bull run and BTC reaching $ 100,000 or higher.
But all of them are based on a strong break of $ 10,760 and $ 13,880, the two last battlegrounds between bears and bulls, which will decide on the long-term fate of Bitcoin and the rest of the cryptocurrency market.
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