BTCUSD $13,500 possible

Bitcoin has rallied to a new 2020 trading high as the cryptocurrency receives from a strong boost from US dollar selling and reflation fears. The BTCUSD pair could target the $13,500 resistance level if bulls can stabilize price above the $12,500 level. Any technical pullbacks towards the $12,000 level may present an opportunity to enter back into the bullish trend.

• The BTCUSD pair is only bullish while trading above the $12,000 level, key resistance is found at the $13,500 and the $13,900 levels.

• If the BTCUSD pair trades below the $12,000 level, sellers may test the $11,800 and $11,580 levels.