Breaking: Bitcoin surges $13,000 – next bullish levels to watch as BTC/USD seems unstoppable

Yohay Elam FXStreet

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:

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.

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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