Bitcoin Price Posts Best Weekly Close of 2019 as $11.5K Now Resistance
William Suberg's original article for cointelegraph.com reduced by 56%
Bitcoin price succeeded in hitting its highest weekly close of 2019 last week, further dispelling fears of a fresh price breakdown. Odds had been high that Bitcoin could surpass its 2019 weekly close record, with analysts last earlier hoping the rest of the week would not see any downward pressure. Josh Rager, the regular commentator currently tracking daily BTC price movements, had given $11,474 as the target to beat to net the 2019 high.
"Short term support flipped back to resistance on lower time frames," he noted in a fresh update on Sunday, as the price closely circled that level. Compared to seven days ago, Bitcoin traders have only seen modest losses of under 3%, while daily momentum was almost flat at press time. Altcoins meanwhile faced another day of lackluster performance, with most assets in the top twenty cryptocurrencies by market cap showing little sign of movement up or down.
The overall cryptocurrency market cap was just under $300 billion, with Bitcoin's share decreasing slightly to circle 68.5%.Keep track of top crypto markets in real time here.
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Summarised crypto news.