{"id":182541,"date":"2021-02-19T06:02:00","date_gmt":"2021-02-19T03:02:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/altcoins-breakout-to-new-highs-while-bitcoin-price-retests-a-key-support\/"},"modified":"2021-02-19T06:02:00","modified_gmt":"2021-02-19T03:02:00","slug":"altcoins-breakout-to-new-highs-while-bitcoin-price-retests-a-key-support","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/altcoins-breakout-to-new-highs-while-bitcoin-price-retests-a-key-support\/","title":{"rendered":"# Altcoins breakout to new highs while Bitcoin price retests a key support"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a348b98ab72e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a348b98ab72e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoins-breakout-to-new-highs-while-bitcoin-price-retests-a-key-support\/#New_support_and_resistance_levels_emerge_for_BTC\" >New support and resistance levels emerge for BTC<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoins-breakout-to-new-highs-while-bitcoin-price-retests-a-key-support\/#Increase_in_jobless_claims_puts_pressure_on_traditional_markets\" >Increase in jobless claims puts pressure on traditional markets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoins-breakout-to-new-highs-while-bitcoin-price-retests-a-key-support\/#Multiple_altcoins_establish_new_highs\" >Multiple altcoins establish new highs<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Altcoins breakout to new highs while Bitcoin price retests a key support <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bullishness in the cryptocurrency market continued on Feb. 18 as Bitcoin (BTC) trades near $51,000 and Ether (ETH) is within reach of the $2,000 level for the first time as retail traders remain long while pro traders are less optimistic in the short term.<\/p>\n<p>Data from Cointelegraph Markets and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">TradingView<\/a> shows Bitcoin price has pulled back slightly from recent all-time highs to a current value of $51,924 while ETH price has increased 5.66% to a record high of $1,950. <\/p>\n<p>Investors in Canada showed their healthy <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>etite for access to the top cryptocurrency as the debut of the Canadian Bitcoin ETF saw nearly $100 million in volume during the first few hours of trading. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/ea8c8460-ed6e-4d18-815e-1a1524cb1fe4.png\"><figcaption style=\"text-align: center;\"><em>Daily cryptocurrency market performance. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coin360.com\/\"><em>Coin360<\/em><\/a><\/figcaption><\/figure>\n<p>Meanwhile, Microsoft co-founder Bill Gates indicated that he has taken a \u201cneutral view\u201d on Bitcoin and is neither short nor long on the asset, feeling that BTC \u201ccan go up and down just based on the mania or whatever the views are.\u201d<\/p>\n<h2><span class=\"ez-toc-section\" id=\"New_support_and_resistance_levels_emerge_for_BTC\"><\/span>New support and resistance levels emerge for BTC<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Chad Steinglass, Head of Trading at CrossTower, has identified the next wall of resistance for Bitcoin around $53,000 while its current support level is around $51,000, creating a \u201cnarrow channel\u201d that is unlikely to \u201chold for very long.\u201d<\/p>\n<p>In a private conversation with Cointelegraph, Steinglass stated: <\/p>\n<blockquote><p>\u201cBelow $51,000 there is more support at $49,000, and above $53,000. I expect the next pocket of resistance to come around $56,000, which is another large open interest option strike.\u201d<\/p><\/blockquote>\n<p>When it comes to Ether (ETH), Steinglass indicated that the recent selloff in altcoins \u201cdragged ETH down along with them,\u201d but as the selloff subsided on Feb. 18 Ether was able to \u201cbreak free and drive higher.\u201d <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/cbfe9a22-a09f-4b3d-b78e-383ae31d2ebf.jpg\"><figcaption style=\"text-align: center;\"><em>ETH\/USDT 4-hour chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Steinglass took the resilience shown by Ether during a turbulent market in altcoins as a \u201c<em>sign that the story behind ETH is more broad and robust than the recent frenzy in altcoins that utilized ETH for staking purposes.\u201d<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Increase_in_jobless_claims_puts_pressure_on_traditional_markets\"><\/span>Increase in jobless claims puts pressure on traditional markets<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Traditional markets fell under pressure on Feb. 18 as the economic recovery from the Covid pandemic sputters in the U.S. and unemployment claims increased following several weeks of a downward trend in the metric. <\/p>\n<p>The S&amp;P 500, Dow and NASDAQ all finished the day in the red, down 0.44%, 0.38% and 0.72% respectively. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Multiple_altcoins_establish_new_highs\"><\/span>Multiple altcoins establish new highs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Altcoins bounced back from their recent dip to see healthy price gains on Thursday, with Binance Coin (BNB) outperforming the rest of the top ten as it increased more than 20% over the past 24-hours to a new all-time high of $218.94<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/d67f02eb-0987-4524-aade-bb0b8d2c3503.png\"><figcaption style=\"text-align: center;\"><em>BNB\/USDT 4-hour chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Dogecoin (DOGE) and IOTA (MIOTA) have also increased by roughly 16% to a price of $0.059 and $1.52 respectively, while REN gained 20.75% to notch a new record high at $1.21. <\/p>\n<p>The overall cryptocurrency market cap now stands at $1.57 trillion and Bitcoin\u2019s dominance rate is 60.6%.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/altcoins-breakout-to-new-highs-while-bitcoin-price-retests-a-key-support\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Altcoins breakout to new highs while Bitcoin price retests a key support &#8221; Bullishness in the cryptocurrency market continued on Feb. 18 as Bitcoin (BTC) trades near $51,000 and Ether (ETH) is within reach of the $2,000 level for the first time as retail traders remain long while pro traders are less optimistic in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":182542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvOTRiNjM5NmUtNDg4NS00MzBmLTkxOWUtODcyMzYyOWVkYjA0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,75166,74862,74937,74863,86883,74891,77338,75150,73785],"class_list":["post-182541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-binance-coin","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrencies","tag-dogecoin","tag-ethereum","tag-iota","tag-market-update","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/182541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=182541"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/182541\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/182542"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=182541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=182541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=182541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}