Bitcoin Breaks to All-Time High, Ending Three Months of Consolidation

Bitcoin made a fresh all-time high after breaking above $60K and ending three months of consolidation. Next resistance around $68K-$70K.

AccessTimeIconApr 13, 2021 at 11:21 a.m. UTC
Updated Mar 2, 2023 at 10:31 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Bitcoin (BTC) is currently trading around $62,600, after pushing early Tuesday to a new all-time high above $63,000. After three months of consolidation, buyers have finally regained strength. Support is seen around the breakout zone of $60,000, which should be monitored for confirmation.

  • The broader uptrend in BTC remains intact despite slowing momentum on the daily price chart. Buyers have remained active at higher support levels since March, although profit taking at intraday overbought zones signaled a period of indecision.
  • BTC has maintained trend support on both the four-hour and daily chart, which should trigger upside volatility.
  • BTC is now overbought on intraday charts and could remain in that phase during strong breakouts.
  • BTC still faces less upside momentum on the weekly chart, which continues to diverge from the near two-fold price increase since January. However, given the breakout, resistance is now seen around $68,000-$70,000.
  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.