Bitcoin (BTC) continued its sudden rise in prices on November 24 when the sudden momentum led to a short-term jump of $ 57,400.
1-hour candlestick chart BTC / USD (bit stamp). Source: TradingView
Analyst: 2021 is still following a bullish pattern
Data from Cointelegraph Markets Pro and TradingView showed that BTC / USD fluctuated within a known range on Wednesday.
The pair has peaked at $ 57,875 on Bitstamp in the last 24 hours and will not be able to hold out as long as buyer support continues to cool around the $ 60,000 resistance.
In the midst of the boring general market environment, some took the opportunity to highlight the continuing similarities between 2021 and previous beef market years.
The popular Twitter account TechDev has focused on Fibonacci levels and the behavior of bitcoins around them – so far this year it is completely in line with the reference.
This analysis is used in the forecast for the current cycle of USD 300,000.
In previous comments, TechDev agreed that Bitcoin’s RSI is “almost time” to see its own return with price tracking.
Meanwhile, trader Bentoshi stressed that $ 60,700 must be returned and held to plan long trades.
“So far, the sellers here look weak,” he told his Twitter followers.
Zcash surpasses top 10 cryptocurrencies
Bitcoin is playing a great game, so altcoins took more drastic steps on Wednesday.
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Ether (ETH) is trading up 4.7% at the time of writing to $ 4,290, which is the strongest player in the top ten cryptocurrencies by market value.
1-time ZEC / USD candlestick chart (Coinbase). Source: TradingView
Zcash (ZEC) was one of the most visible of the major currencies, rising 26% after comments on Twitter by Barry Silbert, founder and CEO of investment giant Digital Currency Group.
Known for hinting at his next potential purchase, Silbert also tried to raise the bitcoin price on Wednesday ahead of the recent rally.