Bitcoin price hits $19K as bulls show no fear of record futures gap

Despite 15% gains coming during a weekend, Monday simply delivers more of the same upside for Bitcoin prior to the Wall Street opening.

Bitcoin (BTC) returned to $19,000 on Nov. 30 as a weekend surge continued to produce fresh gains for investors and hodlers.

BTC price up 18% against weekly lows

Data from Cointelegraph Markets and TradingView showed BTC/USD retaking another key psychological level during Monday trading.

The weekend had already produced major upside for the pair, which late last week dived to $16,300. By the start of Monday, $18,600 had appeared, with Bitcoin going on to deliver returns of at least 17% versus those lows.

As Cointelegraph reported, a giant $1,300 CME futures gap threatens to take the market lower, but buyers so far remain unfazed. At press time, highs above $19,200 were in progress with around half an hour to go before the start of trading on Wall Street.

BTC/USD 1-day hourly chart. Source: TradingView

"Leveling up. The crucial area around $17,800 held," Cointelegraph Markets analyst Michaël van de Poppe summarized just prior to the $19,000 move.

"Now the crucial area is $18,200 and the final breaker before ATH is the resistance around $18,600-18,900."

Should Bitcoin manage to flip that zone to support, the door remains open for another attempt at challenging $20,000. Last week, however, $19,500 provided firm resistance.

Publication date: 
11/30/2020 - 16:01
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