Breaking: Bitcoin price majestically rockets past $18,000 as $20,000 beckons

FXStreet Team FXStreet

Bitcoin rally is in full swing as investors anticipate a final leg up to $20,000. The flagship cryptocurrency has in the last couple of weeks broken key barriers to top $18,000 on Wednesday towards the end of the Asian session.

BTC/USD last traded at this level in 2018 during the 2017 parabolic rally. At the time of writing, the bellwether digital asset is exchanging hands at $18,040 amid a building bullish momentum. Higher support would be key in the run-up to levels above $19,000 and $20,000 respectively.

BTC/USD 4-hour chart

The Relative Strength Index is, however, in the overbought area, hence the need for traders to be alert for a potential correction. On the downside, support is envisaged above $17,000, the 50 Simple Moving Average on the 4-hour chart, at $15,000, as well as the 200 SMA.

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FXStreet Team

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