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    Bitcoin surges into US open as forecast points to attack on $60K

    Abstract:Bitcoin is back near $60,000 after a fresh BTC price breakout as U.S. trading gets underway.

      William Suberg

    Bitcoin surges into US OPEN as FORecast points to attack on $60K

      A familiar scene as U.S. trading begins sees BTC price action head for FORMidable resistance at $60,000 and beyond.

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      Market Update

      Bitcoin (BTC) MET the start of U.S. trading with a bang on DEC. 1 as the Wall St. open sparked a run above $58,500.

    Analyst: $56,000 may have been resistance flip

      DATA from Cointelegraph Markets PRO and TradingView showed BTC/USD gaining 2% in an hour Wednesday, canceling out the majority of overnight losses.

      The pair had HIT $59,000 the day before in a similarly-TIMEd move before giving up progress to dive to local lows of $56,700 on Bitstamp.

      For Cointelegraph contriBUTor Michaël van de Poppe, hope was back that Bitcoin would now challenge firm resistance at $60,000.

      Did you BUY the $56K flip on #Bitcoin?

      Looking to attack the highs here at $60K. pic.twitter.com/nyx2XvE8Sw

    — Michaël van de Poppe (@CryptoMichNL) December 1, 2021

      As Cointelegraph reported, the area at and above $60,000 now represents the resistance level to beat and hold in order to secure bullish continuation.

      Recent events appeared to make such a scenario less LIKEly in the short term, as resistance intensified and support at lower levels conversely evaporated.

      Much like what happened earlier in the year with the $30,000 floor, however, hope remains that $50,000 will continue to form the line in the SAND.

      Wall's been pulled. Either they're done accumulating (30k wall was also pulled at the time), or VolQ is right. pic.twitter.com/sG6DdtFQzL

    — Material Scientist (@Mtrl_Scientist) November 30, 2021

      The November close meanwhile marked the first failure in a longstanding Bitcoin price model to capture BTC price performance. The floor model from analyst PlanB predicted an end-of-month price of $98,000.

    ETHereum comes within 5% of all-time highs

      ALTCoins took advantage of the latest Bitcoin increase, with the TOP ten cryptocurrencies by market cap posting as much as 6% gains on the day.

      Related: Ethereum approaches a NEW ATH, but derivatives data reflects mixed emotions

      Ether (ETH) returned to within striking distance of $5,000, this accompanied by continued strength against Bitcoin.

      ETH/BTC hit 0.083 BTC on Dec. 1, marking its highest since May and almost challenging levels from 2018.

      “ETH is only +5% away from reaching new All Time Highs,” trader and analyst Rekt Capital noted.

    •   #Bitcoin

    •   #Altcoin

    •   #Ethereum

    •   #Bitcoin Price

    •   #Markets

    •   #Ether Price

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