Bitcoin price continues to trade above $18k for the 4th day in the row since November 20, 2020. However, the largest cryptocurrency by market capitalization crossed above $18k for the first time this year on November 18, 2020.
Over the past four days, BTC is drawing a bullish crossover. With altcoins pumping today, the former was at a standstill but spurred just around the time of writing, currently trading at $18.9k, slightly below the massive resistance at $19k. Twitter, the massive social platform for crypto, is flooded with Bitcoin, altcoin pump, and crypto boom.
However, today, it was in the wee hours of the trading session when the altcoins were seen edging clearly, but Bitcoin price lacked traction. Therefore, Bitcoin dominance just collapsed with a clear candlewick rejection.
Altcoin season is here!!
Bitcoin dominance is collapsing
This will be absolutely wild 🤯🤯 pic.twitter.com/QSpPvljscK
— Ivan on Tech (@IvanOnTech) November 24, 2020
However, little do we know more than Bitcoin should never be underestimated. It is designed to eliminate the flaws of the traditional system and work under extreme conditions whatsoever. Bitcoin, the forerunner of the global crypto market, is proving it to be better than the fiat and other assets, completely working towards removing fiat, the roles of banks and financial institutions.
My Bank called me again to question me on "suspicious activity". They asked me why I'm constantly emptying my account with wire transfers.
— Kevin Svenson (@KevinSvenson_) November 23, 2020
Bitcoin’s current price action is just $1,000 below the ATH, giving all the clear instances of reclaiming the same and hitting a fresh ATH. Well, the entire market has just set the right mood for yet another Bull Run rhyming the 2017 market instances; Can we see it anytime soon before the year-end?
#Bitcoin is still 4% below its all-time high of $19,800 set 3 years ago in December 2017. This bull run hasn't even started yet.
— Tyler Winklevoss (@tyler) November 23, 2020
Bitcoin Price Analysis
Bitcoin is trading above $18k over the past four days, and with a choppy trading session against the greenback, it continues to trade around $18.5k. However, just around the time of penning down, BTC price rallied to $18.9k and breached the upper BB, retaining support from 50-day and 200-day MA at $18.5k and $16.8k, respectively.
However, today, it was around the midday trading time when the major altcoins Ethereum and XRP were drawing a bearish candlewick after breaching two-and-a-half-year resistance. All in all, a show time for Bitcoin and cryptos. If you are also interested in Bitcoin and want to make more profit from it then you should check out Bitcoin Code. It is an innovative platform that enables you to make huge profit from Bitcoin trading. You can check out Bitcoin Code Review for further more details.