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One other day, one other all-time excessive — Bitcoin hits $24K in weekend surge

Bitcoin (BTC) set a brand new all-time excessive on Dec. 19 as markets continued to ship surprises in weekend buying and selling.

BTC worth simply hit one other all-time excessive

Information from Cointelegraph Markets and Tradingview confirmed BTC/USD simply eclipsing its file degree set this week, reaching $24,210 on Coinbase earlier than reversing.

Volatility was excessive because the earlier all-time excessive of $23,777 simply gave means earlier than resistance kicked in as soon as once more. In accordance with alternate orderbook knowledge, sellers are prepared at $24,000, with that space now forming a psychological barrier presently underneath assault from bulls.

BTC/USD hourly chart (Coinbase). Supply: Tradingview

“Let’s go, one other all-time excessive throughout weekend hours?” Cointelegraph Markets analyst Michaël van de Poppe tweeted, keenly eyeing the renewed power in Bitcoin markets.

Bitcoin alternate purchase and promote areas (white = extra orders). Supply: Materials Indicators

Dealer warns $18.5K nonetheless assist to look at

The transfer continues a development that has developed in current weeks, vital worth motion occurring throughout weekends slightly than strictly through the week.

On Saturday, in the meantime Van de Poppe urged warning, arguing that essential assist nonetheless lay a lot decrease on the BTC/USD chart at $18,500.

“Such vertical rallies aren’t sustainable for lengthy. Thus, a correction will happen sooner or later. Nevertheless, predicting when it occurs is anybody’s guess as Bitcoin could simply run to $30,000 after which see a 30% correction,” he summarized.