Bitcoin has faced some intense buying pressure throughout the past few hours, allowing its price to see some immense gains. This upside comes as Ethereum and the rest of the <a class="wpg-linkify wpg-tooltip" title="
AltcoinAltcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.
” href=”https://www.newsbtc.com/dictionary/altcoin/” data-wpel-link=”internal”>altcoin market all consolidate, with attention shifting back towards BTC.
The cryptocurrency still has a way to go before it can see another immense rally higher. It is currently pressing up against a key high time frame resistance level that has been hampering its price action for several weeks.
Where it trends in the near-term will likely depend primarily on whether or not it can hold above this level – which exists at $16,500 – and flip it into support.
If it can firmly surmount this level, bulls could take full