Bitcoin (BTC) quickly returned to $48,000 during Sept. 15 as BTC/USD continued on the path to a $50,000 retest.
Bitcoin takes aim at $50,000
Data from Cointelegraph Markets Pro and TradingView tracked the largest cryptocurrency as it beat out thin resistance above $47,000 to zone in on psychologically significant higher levels.Passing $47,000 was a substantial gain for bulls, with resistance then shifting up towards the $50,000 mark, an area which should come next, analysts say.”Right now, we are looking at a potential breakout above the range high,” Cointelegraph contributor Michaël van de Poppe said in his latest YouTube update earlier on the day.Van de Poppe revealed that he was uncertain about a breakout happening at this stage, but if it were to happen, a $50,000 retest would be “pretty significant.””That’s the final hurdle before we’re going to have an actual new all-time high, in my opinion,” he added about flipping then retesting $50,000 as support.A look at the latest buy and sell positions on major exchange Binance confirmed the increasing resistance wall beyond the $40,000–$50,000 corridor.
Polkadot cools gains as Cardano returns
Altcoins were also in a broadly celebratory mood Wednesday, with Cardano (ADA) and Binance Coin (BNB) both seeing gains in excess of 6%.Related: Bitcoin has now been above $10K for a whole yearThe best performers in the top ten cryptocurrencies, the two tokens outshined the previously buoyant Polkadot (DOT), which conversely lost 4% on the day.Largest altcoin Ether (ETH) added 3% to near $3,500.