Bitcoin breaks above 15,300 and trades close to 16,000 overnight

Late yesterday afternoon the outlined upside target for Bitcoin was reached when it traded exactly to 15,300. This had been an objective outlined here on the quick news once the price rose above 14,100. The subsequent pullback from 15,300 led to a drop of around $500, back towards 14,800 ahead of the US close. It was noted here that such profit taking was likely after such a rapid move in recent days. However, that profit taking did not last as long as envisaged here. So, instead of consolidating more, Bitcoin has shit higher again. Once the 15,300 was surpassed that led to another raft of buying later yesterday evening. The price has risen to as high as 15,966 in Asian trading today. It has just now backed off a little, but remains elevated above 15,300 heading into the European opening. One reason for the move higher was due to a number of analyst headlines released later yesterday, calling for the coin to make a move to 20,000 from now on. Bitcoin is just now trading at 15,750