12/14/2020 11:38:27 AM GMT
Bitcoin is poised for a massive spike in volatility.
A rebound from $18,500 will open up the way to a new all-time high.
Bitcoin hit a new all-time high on December 1 but then drifted to $17,580 amid profit-taking and a technical correction from the overbought territory by December 11. Market experts warned that BTC might have been poised for a deeper sell-off before the growth resumed; however, despite the numerous bearish signals, the collapse has not materialized so far.
At the time of writing, BTC is changing hands at $19,140. The coin recovered above $19,000 amid increased buying pressure during the weekend and tested the local resistance area of $19,600. Josh Olszewicz also notes the importance of this barrier.