The recent rally from mid-December\u2019s bottom has been a positive sign for Bitcoin and its brethren but cryptocurrencies may not be out of the woods yet. According to a prominent technical analyst Bitcoin is facing a \u2018titanium level of resistance\u2019 that could spell further losses if not broken soon.<\/p>\n
That does not read well for Bitcoin traders and investors<\/a>, many of which were hoping that the ice and snow from the crypto winter could slowly be starting to melt. Bitcoin has recovered 25% since its 2018 low of just below $3,200 on December 15. Currently trading at $4,000 it has been up-trending since last year\u2019s darkest day for crypto markets.<\/p>\n According to prominent market analyst Murad Mahmudov BTC is facing a wall of resistance at this level and is more likely to fall again the longer it stays here, failing to break through;<\/p>\n 1\/ Titanium level thickness cluster of resistance here. The longer we stay here the more I'd be inclined to look for shorts. <\/p>\n If we *do* break it though, $4800, at the very least, is in play. pic.twitter.com\/GRxkD7ZzmE<\/a><\/p>\n — Murad (@MustStopMurad) January 7, 2019<\/a><\/p><\/blockquote>\n\n