Another new 2020 high for Bitcoin today

Yesterday, the path higher for Bitcoin was not an easy route and as usual the price action was not one dimensional in terms of the direction. That fact was covered here yesterday morning when the price shot higher and then suddenly lower again after setting a new 2020 high just above 16,170. Well, it did later recover to surpass that level later in the session as it another new 2020 high above 16,200. Indeed, it has built on that move again earlier today when setting another new high at 16,491 earlier in the Asian session. That further rise takes the price one step closer to the next target/resistance level that has been highlighted here repeatedly. That is at 16,930 and once again the trend is your friend when it comes to the overall direction. That is still higher, but beware the dips do not catch you on the wrong side of the price action again today. Bitcoin is just now coming off the boil a little as it currently trades at 16,260