Bitcoin Retreats By $700, Spike Above $18,000 Poses First Potential Peak

Bitcoin Retreats By $700, Spike Above $18,000 Poses First Potential Peak


Bitcoin price just had its first decent-sized pullback since making it above $16,000. Less than 48 hours later, the cryptocurrency was already trading well above $18,000.

In the late-night spike last night, the seemingly parabolic crypto asset touched a new 2020 high of $18,474 on Binance, before falling back to $17,800 where the resistance zone begins. Is this the first possible peak before a short term pullback to gather more strength to take out $20,000? Or is there no need to refuel due to how incredibly bullish Bitcoin is in 2020 and $17,800 is now strong support?

Bitcoin Takes Out $18,000: Retreat Or Reversal?

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The leading cryptocurrency by market cap has defied all odds in 2020, and in the face of a pandemic and an economy on thin ice has become the best performing asset of the year.

The uncertainty and economic strain could actually be what’s benefitting Bitcoin the most, prompting investors to pour their capital into the

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