Bitcoin (BTC) Closing Above $11,700 Sets Stage for Push to $20,000 & Beyond

Bitcoin Needs $11,700

Since this Bitcoin (BTC) rally started, analysts have been asking, when and how will cryptocurrencies reach new heights? According to Level’s Josh Rager, getting BTC past $20,000 isn’t as hard and far away as some may think.

In a well-received recent tweet, the popular analyst, who has risen to prominence amid 2018’s bear market, claimed that Bitcoin needs to close above $11,700 to spark a move to new highs. For those unaware, $11,700 is the price point at which BTC found resistance during the collapse from $20,000, and where BTC topped during April 2018’s bear market rally.

As to why this will happen, Rager explained that there is minimal resistance between $14,000 and $16,000, as made evident by Bitcoin blowing past those levels without faltering in 2017’s parabolic move. He adds:

“Bullish sentiment & greed will propel price action to new highs & accumulating under $11,700 will be key, imo.”

Read More at EWN...

#BTc #TA #Bullish

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