Bitcoin (BTC) hit a new record high on December 19 as markets continued to surprise traders over the weekend.
The price of BTC has reached a record high
Data from Cointelegraph Markets and Tradingview showed that BTC / USD only crossed an all-time high this week, reaching $ 24,210 on Coinbase before the reversal.
Volatility was high as the previous record high of $ 23,777 had just rolled back before hitting resistance again. According to the stock order book, the sellers are ready at the $ 24,000 level, and this area is now a psychological barrier that is now under attack by the bulls.
“Come on, another full-time this weekend?” Michael Van de Pope, analyst at Cointelegraph Markets, has tweeted closely about renewable energy in the bitcoin markets.
Trader cautions that the $ 18.5000 support is still worth looking at
This move continues in the trend that has developed in recent weeks, with a large price action occurring over the weekend, and not strictly during the week.
Meanwhile, Van de Pope on Saturday called for caution, arguing that significant support is still much lower on the BTC / USD chart at $ 18,500.
“These vertical sets are short-lived. Consequently, there will be a correction at some point. However, one can only guess when it will happen, as the bitcoin price could easily rise to $ 30,000 and then see a 30% correction.”