Bitcoin Price Breaks $25K For a New 2021 All-Time High

Following a solid buildup yesterday, Bitcoin’s price managed to break through another important level. It surged above $25,000 and marked a brand new all-time high in the new 2021.

  • Bitcoin’s price marked a brand new all-time high around $35,879 on Bitstamp.
  • This followed a tumultuous day of trading where the range was trapped between a low of $33,348 and the aforementioned high for a total difference of more than $5,000.
  • At the time of this writing, the cryptocurrency is trading at around $35,400, for a daily increase of around 13.8%.
btcusd_chart
BTC/USD. Source: TradingView
  • Looking ahead, the very first level of resistance above the current price tag lies at $35,500 which is followed by the short-term 1.272 Fib Extension at $36,235. Above that, we can probably expect some more selling pressure at around $37,150.
  • On the other hand, if the price breaks towards the downside, the first level of support to be considered lies at $33,000. After that, we have $32,100, $31,345, and $30K.
  • It’s interesting to see how the price develops in the near future. The last few days have been particularly volatile and the aforementioned daily trading range confirms it.
  • It’s important to remain vigilant and to exercise extreme caution, especially if day trading.

Source: Crypto Potato