Bitcoin surges above $9,200, the highest in over a year – levels to watch
|Bitcoin has been on the rise over the weekend. The rally has gained traction and BTC/USD has surpassed $9,200 at the time of writing. The cryptocurrency has surpassed the May 30th high of $9,090 and is now trading at levels that were last seen in May 2019.
The next big targets on the daily chart are $10,000 – a round number and also a peak seen in early May 2018. Further up, $11,650 was a high point in February 2018. Higher up, $13,000 was a high point in January 2008.
Some analysts think it may have more room to run. See Bitcoin to skyrocket to $400,000 riding on fundamentals and not FOMO
Support awaits at the previous peak of $9,090 then $8,5000, which was a high point in July $8,500, and $8,388 which was the initial high point in May 2019.
Other digital coins are on the rise as well with Ethereum (ETH/USD) trading around $275 and Ripple (XRP/USD) beyond $0.42.
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