Bitcoin Needs to Surpass $16,200 to Confirm the Case for a Further Rally

[sneakyboi]

Bitcoin Needs to Surpass $16,200 to Confirm the Case for a Further Rally

Bitcoin has begun to thrust higher once again after an extended bout of consolidation under $16,000. The leading cryptocurrency currently trades for $16,150, up 3% in the past 24 hours alone. BTC has begun to outpace altcoins once again, with most digital assets actually recording losses against the U.S. dollar today.

Analysts say that Bitcoin must decisively break past $16,200 to confirm its latest leg higher. One crypto-asset analyst shared the chart seen below on November 12th, noting that $16,220 remains a level of interest for him because it is the “weekly rejection block.”

Learn more about the news here.