$48,000 proves too much for BTC bulls Saturday as Cardano’s ADA hits $2.20 in a fresh show of strength.
Bitcoin (BTC) bounced at $46,000 support on Aug. 14 after an attempt to crack major resistance ended in rejection.
Bitcoin rejects at $48,000
As Cointelegraph reported, the area of seller pressure from $47,000 and upwards had been a formidable feature on the daily chart throughout the week, with Bitcoin taking several days to prepare its attack.
In the event, the wall was only partially broken before momentum ran out and BTC/USD returning to more familiar territory.
At the time of writing, BTC price action focused around $46,500, a classic “Bart Simpson” structure characterizing the past 24 hours’ movements.