Forex and Crypto News

Bitcoin rose above $13000 twice a day

13:38 22 October /2020

Bitcoin price has risen above $13000 twice within 24 hours. Yesterday, the pair BTC/USD climbed above the level of $13000, reaching a high of $13235. Then the pair BTC/USD dropped below $13000 but today climbed back to the high of $13043. At the time of publication, the pair BTC/USD is trading around $12865.

The second rise above $13000 per day suggests that the price may remain at this level for a longer period of time. And after some correction, we will again see the bull's attempt to fix the price above $13000.

btcusd-22-october2.jpg

The level of $13000 is important for bulls. If you look at the price chart of the BTC/USD pair, you can see that last year the pair also began to grow actively after breaking the level of $13000, but was stopped around $14000.

In the current situation, the level of $13250 is the next resistance level for the pair BTC/USD. A break above this level could open doors for a test of the $13650 resistance zone.

If the price falls below the support level of $12650, it may continue the downward correction. In this case, the bulls will try to stop the bears in the area of $12500.

Yesterday, after PayPal announced the support of the cryptocurrencies Bitcoin, Bitcoin Cash, Litecoin, and Ethereum, the rates of these cryptocurrencies showed growth. PayPal plans to support cryptocurrencies from 2021 on its network.

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