Bitcoin (BTC) quickly returned to $48,000 during September 15th with BTC/USD still on the path to retesting $50,000.
Bitcoin aims at $50,000
Data from Cointelegraph Markets Pro and TradingView tracked the largest cryptocurrency as it overcame weak resistance above $47,000 to reach psychologically significant higher levels.
$47,000 was a big gain for the bulls, with resistance then turning towards the $50,000 level, the area that should come next, analysts say.
“For now, we’re looking at a potential breakout above the high range,” Cointelegraph contributor Michael van de Poppe said in his latest YouTube update earlier today.
Van de Poppe revealed that he is not sure such a breakout will occur at this point, but if it does, a retest of the $50,000 would be “very significant”.
“This is the last hurdle before we hit a new all-time physical high, in my opinion,” he added about flipping and then retesting $50,000 as support.
A look at the latest buying and selling positions on the major Binance exchange confirmed the wall of resistance growing beyond the $40,000-50,000 corridor.
Polkadot cools gains with the return of Cardano
Altcoins were also in a widespread festive mood on Wednesday, with Cardano (ADA) and Binance Coin (BNB) both seeing gains of over 6%.
Related: Bitcoin has now crossed $10,000 for an entire year
The best performer in the top ten cryptocurrencies, the two tokens outperformed the former boomer Polkadot (DOT), which lost 4% on the day.
The largest altcoin Ether (ETH) added 3% to nearly $3,500.
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