Bitcoin BTC Bitcoinprice crypto Bitcoin climbs to $16,450 as several analysts warn about a potential 40% pullback
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Data from TradingView shows that Bitcoin bulls manage to thwart an attempt by bears to smash BTC back below support at $16,000 and push its price to a midday high of $16,540 before entering consolidation near $16,450.The resilience of the bulls was touched on by Kitco senior technical analyst Jim Wyckoff, who noted that “BC bulls have stabilized prices since they hit a two-year low last week.”
That doesn’t mean that he thinks cryptos are doomed to fail, however, as the asset class has gained a certain level of resiliency over the years.
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