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Bitcoin pulverizes key resistances and already thinks about $ 20,000


The sensations couldn't be better after being able to jump, with a high trading volume, above the resistance of $ 10,500 (now support).

Technical analysis

Short term

Medium term

Long term

The king of cryptocurrencies has pulverized, with a lot of volume, the important resistance of the $ 10,500 (resistance that corresponds to the 10,700 of the future). Which makes us believe that the movement is serious, although this is not incompatible with the fact that it can correct in the short term. You know, prices move in the teeth of a saw and within each great rise we have to attend corrections against trend (or reaction phases). Therefore, it would not be anything strange for bitcoin to correct in the form of a 'throw back' to the new support, previously resistance, of $ 10,500.

What's more, what we have before us is what is known as an inverted 'head and shoulders' with significant bullish implications for price. In fact, the theory goes that the height of the 'head' should now rise, which points to price levels above even $ 20,000 (the record high). Of course, this can take a long time since the figure back has taken a long time to form. Although with bitcoin you never know since when it starts to rise it does it like none. With that said, let's go step by step. This has overcome a significant resistance and it would be good if it were able to consolidate comfortably over the next sessions.

Daily chart of bitcoin's future

. (tagsToTranslate) bitcoin (t) pulverizes (t) resistances (t) key (t) thinks (t) $ 20,000 (t) Category: All (t) Category: Market Report (t) Category: Technical Analysis ( t) Category: Pulses (t) Category: Analysis (t) Category: Market Pulse (t) Category: Cryptocurrencies

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