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Bitcoin still knocking on the door

16 Dec, 2020

Yesterday Bitcoin rebounded from levels just above 19k after holding a basing price action just below 19,100. That allowed for another move higher to unfold ahead of the US close as the price reclaimed levels above 19,500 again. However, this rebound stalled ahead of the previous one (at 19,562) when forming a minor double top at 19,552. The subsequent drop back today has been capped on the downside at 19,300 for the time being and now the price is trying to lift again. It is rising back above 19,450 right now, but it needs to clear all those tops and rise above 19,562 convincingly if it is to make a serious attempt at reaching 20k this week. Indeed, the question, that was asked here about the prospect of that happening this side of the New Year, remains an open one for sure. Bitcoin is currently trading right now at 19,460

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