Bitcoin hits a fresh all-time high of $24,210 on Coinbase as volatility ensures the weekend bulls are not yet done.
Bitcoin (BTC) set a new all-time high on Dec. 19 as markets continued to deliver surprises in weekend trading.
Data from Cointelegraph Markets and Tradingview showed BTC/USD just eclipsing its record level set this week, reaching $24,210 on Coinbase before reversing.
Volatility was high as the previous all-time high of $23,777 just gave way before resistance kicked in once again. According to exchange orderbook data, sellers are ready at $24,000, with that area now forming a psychological barrier currently under attack from bulls.
“Let’s go, another all-time high during weekend hours?” Cointelegraph Markets analyst Michaël van de Poppe tweeted, keenly eyeing the renewed energy in Bitcoin markets.
Trader warns $18.5K still support to watch
The move continues a trend that has developed in recent weeks, significant price action occurring during weekends rather than strictly during the week.
On Saturday, meanwhile Van de Poppe urged caution, arguing that crucial support still lay much lower on the BTC/USD chart at $18,500.
“Such vertical rallies aren’t sustainable for long. Thus, a correction will occur at some point. However, predicting when it happens is anyone’s guess as Bitcoin may easily run to $30,000 and then see a 30% correction,” he summarized.