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BITCOIN HOLDS ABOVE CRITICAL SUPPORT LEVEL AS BULLS TARGET $14,000

Bitcoin is flashing some signs of intense strength today. While Ethereum and most other altcoins either consolidate or drift lower, BTC just set fresh 2020 highs as its bulls target a move towards $14,000.

Ethereum has been underperforming Bitcoin as of late, but it also tends to lag a day or two behind it when the benchmark crypto pushes higher.

One analyst is now noting that he is expecting BTC to see some slight turbulence in the near-term, noting that a decline down towards $13,000 would be “healthy.”

He also notes that a break below this level would end Bitcoin’s uptrend.

BITCOIN PUSHES HIGHER AS AGGREGATED MARKET CONSOLIDATES

At the time of writing, Bitcoin is trading up just under 3% at its current price of $13,420. This marks a serious surge from where it was trading just a day or so ago when bears pushed it as low as $12,800.

The support here proved significant and helped catalyze the momentum that has since sent BTC up to where it is currently trading.

One analyst explained that $13,000 has now become a crucial level to watch in the short-term, as he believes another dip below this level would strike a serious blow to Bitcoin’s technical outlook.

He notes that a wick down to this level could be “healthy” and help incubate further upside.

How Bitcoin continues trending in the days ahead should provide some insights into its near-term outlook and into whether a move to $14,000 truly is imminent.

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Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin48,812 0.20 % 1.94 % 0.25 %
Ethereum1,522.1 0.61 % 3.89 % 2.68 %
Cardano1.230 0.15 % 0.28 % 29.05 %
Binance Coin240.50 0.56 % 5.61 % 5.15 %
Polkadot37.47 0.03 % 2.44 % 8.95 %
Tether1.000 0.04 % 0.01 % 0.05 %
XRP0.4380 0.19 % 2.03 % 7.40 %
Litecoin183.24 0.10 % 3.73 % 3.99 %
Chainlink29.08 1.29 % 1.53 % 12.88 %
Bitcoin Cash524.21 0.29 % 3.35 % 1.99 %