Bitcoin has rallied to a new 2020 trading high after storming past the $16,000 level and has also performed its highest daily price in nearly two years. Technical analysis shows that the BTCUSD pair could rally towards the $17,000 area without staging a meaningful price pullback. Traders that are bearish towards the BTCUSD pair may have to wait until the cryptocurrency reaches a new all-time high before considering selling.
The BTCUSD pair is only bullish while trading above the $15,500 level, key resistance is found at the $17,000 and the $17,200 levels.
If the BTCUSD pair trades below the $15,500 level, sellers may test the $15,300 and $14,900 levels.
