After Surging 20%, Bitcoin Should Have At Least 2 Legs Higher: Analysis


Bitcoin has continued to erupt higher after failing to break past $11,500 earlier this week. As of this article’s writing, the cryptocurrency is trading at $11,900. The asset is now up approximately 20% in the past seven days. This strong price performance has made Bitcoin extremely overbought by some technical standards. Despite this, a relative strength index analysis by a trader suggests that BTC will see further legs higher in the months higher. This is in line with other analysts’ assertions that the leading cryptocurrency will hit $14,000 and $20,000 likely in 2020, then potentially proceed higher in 2021. Bitcoin Has Room to Rally: RSI Analysis Bitcoin’s price performance over the past week has been impressive, to say the least. According to data from Coin Market Cap, the asset is up 21% in the past seven days, marking one of the greatest weekly gains in many months. This recent rally,…

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