3 reasons why Bitcoin price faces a major hurdle at $20,000 By Cointelegraph


3 reasons why Bitcoin price faces a major hurdle at $20,000

The price of (BTC) hit $19,469 on Coinbase, reaching its highest point since its December 2017 peak. Although the dominant cryptocurrency is close to surpassing its record high, there are some warning signs to take note of.

Three potential reasons Bitcoin faces the possibility of a pullback at $20,000 are a bull trap, overhead resistance and an overcrowded derivatives market.

15-minute chart. Source: TradingView.com
A potential Bitcoin price trend. Source: Bitcoin Jack
BTC Fund Flow Ratio hit a three-year low. Source: CryptoQuant