In recent hours, Bitcoin finally overcame the previous high of $9,400 and recorded a new yearly high above $9,600. It seems like the road to five digits is closer than ever in 2019.
Just yesterday, we mentioned that Bitcoin was nearing a sharp move, following odd days of relative price consolidation.
After its fascinating recovery during the first months of 2019, and with the recent hype amid Libra’s announcement, it felt like it was a matter of time until we saw a new high for the year.
Support/Resistance: After surpassing the previous high of $9,400, Bitcoin’s price reached the aforementioned resistance area at $9600 – $9700 and had stopped there at the time of writing. Should this level be surpassed, the $10,000 target is the next major resistance and is likely to be reached quickly. Further targets are the resistance levels at $10,200 (the daily chart’s upper ascending line, marked in orange), $10,600, and the $11,000 area.