Bitcoin takes one step closer to new 2020 high

Bitcoin is still in the ascendancy today. A short while ago the lead cryptocurrency extended its overnight gains even more as it lifted above 12,400, to as high as 12,450 so far. That move has taken the coin to within very close proximity of the current 2020 high at 12,473 that was reached on August 17. Understandably, there is potential for a further upside extension if the price does set a new 2020 high beyond 12,473. The move higher today comes as the dollar remains under pressure and Bitcoin continues to track the performance of the EUR/USD. Beyond 12,473, the next significant level of resistance comes into play at just above 13,100 but that is more than likely a bridge too far today. Besides the price will have to surpass that 12,473 level first before it can think about how much higher it will go. Bitcoin is just now trading at 12,440