Bitcoin (BTC) just set another 2020 high by rallying above $18,000 for the first time in three years.
On Nov. 17 BTC price rallied to $17,858 after a high volume surge pushed the price cleanly through the $17,100 to $17,300 range that many analysts believed would be a strong resistance level.
According to Decentrader co-founder, filbfilb, Bitcoin price could continue to march higher in the short-term if key underlying supports hold.
BTC/USD daily chart. Source: TradingView
The popular analyst tweeted the above chart and said:
“The current PA could still very easily result in a blow-off towards the Golden Ratio Multiplier, currently at 19k.”
BTC/USDT daily chart. Source: TradingView
As shown on the weekly chart, Bitcoin is just a hair away from snatching the $19,763 all-time high reached on December 2017, and on multiple timeframes, the volume profile visible range (VPVR) shows there is little resistance above $17,000.
Analysts were expecting the price to briefly consolidate in