alanmasters

What Happens If Bitcoin Breaks $13.88K? The Path To $20,000+

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Today we are officially looking at a higher high for Bitcoin ( BTCUSD ) compared to last month's prices and we also get the highest level we've been since July 2019...
This changes everything.

Now, $13880 is the next barrier when we look at the weekly timeframe and where prices are headed...
Above $13880, there isn't much resistance.

If BTCUSD can break above this level, we will surely see the $16400/$17900 range be hit next and finally another stop at $19,000/$20,000+.

Since the week of March 09 low, there hasn't been that much or strong bearish action.

We see a very strong higher low when we use the candle close for late Dec. 2019 and March this year.

We are also seeing pressure continuously going to the upside and now BTC is aiming to challenge the June 2019 peak.

Chart Signals Bitcoin Weekly

1) We have prices trading above EMA10 and all other EMAs. ( Bullish )
2) The MACD is on the bullish zone while aiming higher. ( Bullish )
3) The RSI is super strong. ( Bullish ).

This is the weekly Bitcoin chart as it is now...

I've marked several levels all the way to $48,000+.

  • The magenta dashed lines are for resistance.
  • The blue dashed lines are for support.

All the additional details can be seen on the chart.

Feel free to leave a comment if you have any questions.

Namaste.
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Comments

What do you think happens with its correlation to the DXY. Right now we are at a range low. Last time stimulus came in DXY rallied then dumped. BTC gained at every dump. Thoughts Alan
Reply
@TwoSats, I will have a look and share today.

Thanks for the comment.
Reply
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