Bitcoin has rallied to yet another new high, as the ongoing breakout rally in the pioneer cryptocurrency shows few signs of stopping. Technical analysis shows that the $18,000 level is the next major upside target now that the $17,250 resistance level has been broken. Traders that are looking to fade the BTCUSD pair may have to wait until Bitcoin has reached the $19,000 to $20,000 area.
The BTCUSD pair is only bullish while trading above the $16,170 level, key resistance is found at the $18,000 and the $19,000 levels.
If the BTCUSD pair trades below the $16,170 level, sellers may test the $15,900 and $15,700 levels.
