Another thousand dollar bitcoin price pump day it was and it sounds like a routine now. Bitcoin price broke above $13k and now has to stay there for greater gains to come. Looking at the long term picture depicts a high likelihood of this happening.
Bitcoin Price Breaks $13000
Another day’s bullish momentum has resulted in another weekly high for bitcoin which touched $13,150 during Asian trading this morning. If BTC can close a daily candle above $13k it could well push to $14k. After this, the sky is the limit as there is little resistance between this level and $17k and then beyond.
Back in 2017 bitcoin moved fast, after breaking five figures and a brief pullback it only took a little over a week to top out above $18k. Another correction and another week or so later and BTC was at its peak of $20,000.
If history rhymes, we have already had our first pullback so there is little in the way up to $17k. Another correction may occur there before a push to a new ATH this year. Trader and analyst Josh Rager has zoomed out to the long term one month chart noting extreme bullishness in the current pattern.
“The monthly close is still a few weeks away but you can’t deny the bullishness if Bitcoin can close above the previous ATH close at $13,863. On high-time frames it will be clear skies with no price history resistance overhead, only support. Countdown to July 31st”
The monthly close is still a few weeks away but you can't deny the bullishness if Bitcoin can close above the previous ATH close at $13,863
On high-time frames it will be clear skies with no price history resistance overhead, only support
Countdown to July 31st pic.twitter.com/E1OI6mnZMV
— Josh Rager Read more