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Breaking: Bitcoin bounces back above $20,000

Breaking: Bitcoin bounces back above $20,000
FXStreet TeamFXStreet TeamFXStreet

Bitcoin jumped back above $20,000 recently after reaching a low of $17,600 on Jun 18. From a technical perspective, it appears that BTC was able to bounce off the Tom DeMark (TD) Sequential's setup trendline on the weekly chart. The flagship cryptocurrency now needs to print a daily close above $20,500 to have a chance of advancing toward $23,160 or even $29,250. 

Bitcoin price chart

BTC weekly chart

Failing to overcome the $20,500 resistance level could result in another downswing to $17,600. Be aware that if Bitcoin were to dip below $17,200, the next support area that sits at $12,400. 

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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