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Bitcoin Finally Breaks Above $92,000

Written By: ChartChamp

November 20, 2024

Since Nov. 13 Bitcoin has traded below the $92,000 resistance level, and has struggled to hold above $92k. Yesterday BTC formed a breakout above $92k and retested the $92k resistance level as support. This morning BTC is trading above $92k and has formed new all time highs. I think $100k is the key psychological level to monitor, but I believe there will be a strong selloff before reaching the $100k target. BTC is trending up for now, but keep in mind that we have a pattern of 2 weeks up, 2 weeks down. This current 2 week period (between Nov. 18 and Dec. 1) is likely to close red.

BTC experienced a short-term pullback and ALTS have taken a steeper decline in the process. Smaller cap cryptos are likely to have more significant price swings. It is always important to monitor BTC for these pullbacks especially when the price is extremely high at $90k+ price levels.

BTC and ALTS have started to rebound and are now trending up. BTC is likely to reach new all time highs around $95k+ price levels.

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