BTC/USD has broken above $13,000 – already up some 11% on the day – and at the highest in over a year. At the time of writing, Bitcoin has reached a high of $13,296 and momentum looks robust.
The next levels to watch are $13,440, $15,530, and $17,160 before the all-time high just below $20,000.
All these lines of resistance either served as support or resistance lines back in the autumn of 2017 when Bitcoin prices were surging and in early 2018 when cryptocurrencies suffered a downfall.
The Relative Strength Index on the weekly chart is above 70 – reflecting overbought conditions – and implying a correction before the next move higher.
Here is how the move and the next levels look on the Bitcoin weekly chart:
-636971634017718969.png)
Here are additional targets as presented by Tomas Salles's latest analysis:
Above the current price, the first resistance level is at $14,000 (price congestion resistance), then the second at $17,090 (price congestion resistance) and the third one at $19,800 (historic high close). Above this price level, the BTC/USD pair will go up freely.
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