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Message: <blockquote data-quote="sriamerican" data-source="post: 26009280" data-attributes="member: 575658"><img src="https://imagizer.imageshack.com/img922/2890/Pgg404.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" />Within the last hour, the Bitcoin (<a href="https://cointelegraph.com/bitcoin-price-index" target="_blank">BTC</a>) price rallied to set a new all-time high at $29,000. On Dec. 29, the Bitcoin price attempted to push through a stiff resistance cluster at $28,500, but after rallying to $28,600, the price rejected with a sharp correction to $27,300.<img src="https://imagizer.imageshack.com/img924/820/0fMcMx.png" alt="" class="fr-fic fr-dii fr-draggable " style="" />Today’s move to $29,000 came after a high-volume surge pushed through the $28,500 resistance, but the battle for $30,000 is far from over.Data from Material Indicators shows there are still sell walls near the $30,000 level at Binance and other major cryptocurrency exchanges.Barring another sustained high-volume surge in purchasing volume, the presence of sell walls suggests that a rally to $30,000 may trigger a strong sell-off and cause BTC price to revisit key underlying supports at $28,000 and $27,300, where the 20-day moving average currently resides on the 4-hour timeframe.$30,000 then moon?Many retail traders expect the Bitcoin price to soar well above $30,000 once the psychological barrier is overcome, but Nunya Bizniz, a popular trader on Twitter, <a href="https://twitter.com/Pladizow/status/1344355140178993154?s=20" target="_blank">pointed out</a> that above $30,000, Bitcoin price begins to look a bit overextended, as the 1.618 Fibonacci retracement is at $30,196.<img src="https://imagizer.imageshack.com/img923/365/zNyOoS.png" alt="" class="fr-fic fr-dii fr-draggable " style="" />Given that Bitcoin price has rallied 64.9% since the start of December, hitting the 1.618 Fib level could provide a signal that a pullback is on the cards, but ultimately, volume will be the primary indicator of where the price may go.Currently, Bitcoin price has gained 302.6% for the year and is vastly outperforming gold and traditional markets like the Dow and S&P500. For Q4, BTC has rallied by 168.32%, securing the second-best quarterly performance since 2017 when the digital asset gained 210.13% in Q4.</blockquote>

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