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3 years after 2018 All time high, Bitcoin has achieved another greatness. Passing 20k.
Everyone on Twitter is celebrating. However, this is gonna rekt many in a few days.
The price has gone up so fast from approximately 19.1k just a day earlier. Today it's around 20800 at its highest.
There are a couple of problems with this ride up. One is that the 20 week ma is far far away. It's a matter of time before we revisited that price range again. The new immediate resistance level is about 21k. Usually we have to go sideways first after a Breakout but what I can roughly foresee is that we will touch 21k and then prices will dip back towards the support at around 19k. Then it also bridges back the gap between the current Bitcoin price then and the 20 week moving average..
Just watch the price and be prepared. If Bitcoin can push through 21k,its all the way up up up.