Bitcoin [BTC] Price Analysis: Soars above $16,300 despite Pfizer Vaccine News

Bitcoin [BTC] Price Analysis 13/11/2020

The Bitcoin price is firm above $16,300, adding an impressive nine percent against the greenback.

In the daily chart, today marks the 22nd day since prices broke above Aug 2020 highs, officially marking the beginning of an uptrend.

From candlestick arrangement and the divergence of BB, the underlying momentum and volatility is high. For this reason, every high is technically a loading opportunity with targets at Jan 2020 highs of around $20,000.

The immediate support line is the middle BB. A high volume break below $14,000, wiping out gains of Nov 5 may spark a sell-off and the beginning of a reversal towards $12,500 in a retest of Aug 2020 highs.

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