Bitcoin Pushes Past $119K in a New Attempt to Break Key Resistance

Bitcoin is pushing past $119,000, attempting to break out of its recent consolidation range The move is a challenge to the key $118,483 resistance level, which analysts have been watching closely This comes as the RSI has cooled off from overbought levels, signaling the market has reset for a new move Bitcoin is pushing past $119,000 on Wednesday, attempting to break out of the tight trading range that has defined its price action since setting an all-time high last week. The move is a direct challenge to the key $118,483 resistance level, a zone that analysts have been watching closely as the critical pivot for the next major move. Bitcoin has been trading within a narrow zone after its sharp rejection from above $123,000 last week. The 1-hour chart shows high volatility, but this is the first time the price has made a convincing push above the top of the range. The Battle for the Breakout Level Trader DaanCryptoTrades recently highlighted the $118,483 level as the key line in the sand. He noted that a clean reclaim of this zone could set up a move back toward the recent all-time high near $123,207. So far, attempts to break above it have failed, with … The post Bitcoin Pushes Past $119K in a New Attempt to Break Key Resistance appeared first on Coin Edition .

Source: Coin Edition