- Bitcoin and the aggregated crypto market are pushing higher today, with BTC breaking above $17,000 while Ethereum helps lead altcoins higher as well
- The benchmark cryptocurrency hasn’t seen much selling pressure at this level, despite it long being viewed as resistance
- It has struggled to break above this level a few times, but the selling pressure here has not catalyzed any sharp selloff
- Where it trends next will depend largely on whether or not it can firmly surmount this level before tonight’s daily candle close
- A firm close above here could help further perpetuate what one firm is describing as the “longest and most stable” rally that Bitcoin has ever seen
Bitcoin’s intense uptrend is showing no signs of slowing down anytime soon. The crypto is now pushing $17,000 as bulls look to make a sustainable break above this crucial level.
Whether or not it is surmounted in the near-term will depend largely on whether or not bears attempt to reverse the uptrend at this point. There are already serious signs of exhaustion amongst sellers, so they may not be in a position to catalyze a selloff.
Where the entire market trends next will depend entirely on Bitcoin and how it reacts to this crucial level.
Read more: Bitcoinist