What Analysts are Saying About Bitcoin as It Reaches Overhead Resistance

Bitcoin is fast approaching a long-watched overhead resistance level formed in the time following its recent rejection at its $19,500 all-time highs. As for what traders expect to happen next, one stated that he is taking some money off the table as the crypto navigates up towards its overhead resistance level in the lower-to-mid $18,000 region.

BTC May Struggle to Break Its Overhead Resistance, Claims Trader One trader stated that Bitcoin might not break through the resistance that is laced throughout the lower-$18,000 region. As Bitcoin’s weekly candle close fast approaches, how it trades in the coming few hours should provide serious insights into its outlook for the rest of 2020.

Timeline of Bitcoin