OPM Wealth: BITCOIN PRICE STRIKES SIX MONTH HIGH
Another day and another yearly high has been hit by the BTC price on its march back upwards. Analysts are eyeing the next resistance levels and it seems that Bitcoin (BTC) has a bit further to go yet.
BTC has tapped a new 2020 high of just shy of $10,500 during today’s Asian trading session. Since its jump back above five figures a couple of days ago the king of Crypto has continued to march slowly higher reaching prices not seen since early September last year.
So far this year Bitcoin has made an impressive 45% which was enough to garner the attention of the pundits on CNBC’s ‘Fast Money’ yesterday. Analysts have been eyeing next levels of resistance and Josh Rager has found a level of around $10,750 on the monthly chart.
“BTC $10,761 remains the resistance on the monthly chart. But if we zoom in inside the monthly, we'll see horizontal resistance at $11k. And $BTC could get as high as $11,400 to $11,550 before topping out IMO (VAH/VP). I’ll stay in spot positions until then & likely hedge short” - Josh Rager
He added that horizontal clusters can be seen clearer on the daily chart which shows resistance at a similar level. $12k is also a target if BTC can break through initial resistance levels first, from there on there is very little preventing it returning to last year’s high of $13,800.
In today's show we also premier Chris Records latest Bitcoin rap video entitled: Back To My Crypto (HODL Gang 2).
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky and so is investing into Cryptocurrency, especially when trading Crypto. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
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