BTC price hits $48K with little resistance left before $50K retest

The “final hurdle” before all-time highs is now in sight, say analysts, as Bitcoin adds to weekly gains.

Bitcoin (BTC) quickly returned to $48,000 during Sept. 15 as BTC/USD continued on the path to a $50,000 retest.

Bitcoin takes aim at $50,000

Passing $47,000 was a substantial gain for bulls, with resistance then shifting up towards the $50,000 mark, an area which should come next, analysts say.

Van de Poppe revealed that he was uncertain about a breakout happening at this stage, but if it were to happen, a $50,000 retest would be “pretty significant.”

“That’s the final hurdle before we’re going to have an actual new all-time high, in my opinion,” he added about flipping then retesting $50,000 as support.

A look at the latest buy and sell positions on major exchange Binance confirmed the increasing resistance wall beyond the $40,000–$50,000 corridor.

Polkadot cools gains as Cardano returns

Altcoins were also in a broadly celebratory mood Wednesday, with Cardano (ADA) and Binance Coin (BNB) both seeing gains in excess of 6%.

Related: Bitcoin has now been above $10K for a whole year

The best performers in the top ten cryptocurrencies, the two tokens outshined the previously buoyant Polkadot (DOT), which conversely lost 4% on the day.

Largest altcoin Ether (ETH) added 3% to near $3,500.

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