Bitcoin Knocks on Door of $50,000 After Rising Above Resistance
- Biggest cryptocurrency has surged past technical barriers
- Cardano, Binance Coin, Dogecoin also participating in rally
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Bitcoin is nearing the key $50,000 level as it continues to rise out of a multi-month period of weakness.
The largest cryptocurrency reached as high as $49,803, the highest since May 15, midday Saturday in New York. It was trading around $49,000 as of 9:30 a.m. Sunday. Its rally is overcoming a rare confluence of technical obstacles, including an April low of about $47,000 and a Fibonacci and Ichimoku cluster between $47,000 and $48,000.