Bitcoin may test a resistance soon at $14K to $13K before reaching to $20K
It is likely that bitcoin may test a resistance soon to around $14K to $13K before reaching to $20K support zone so trade with caution. It is because there are more holders who are still waiting to sell it on $20K so it is possible that bitcoin may test a resistance before reaching to $20K level to avoid the panic sell otherwise the scenario may be same as of 2017 because of panic sell it took around 2 years to reach to this level again.
What?
Bitcoin was higher than $18k minutes ago and if you wanted to say something with $13k or $14k, it is supports, not resistance. The resistance for bitcoin is $19k or $20k. Three year resistance and it was not touched last 3 years. Bitcoin is closest to that resistance after 3 years.
Bitcoin Support and Resistance for dummiesBitcoin testing the support at $16K to $17K is much more feasible than the $13K to $14K mentioned by the OP considering the volatility of the price which was very massive in recent days, the price reaching $20K in the next few days to come is very much in sight and I don't think the price will experience the massive dump or pull back like of 2017 based on some positive fundamentals factors surrounding the recent upsurge example like PayPal adoption of cryptos, halving of bitcoin, more people embracing bitcoin instead of fiat while avoiding physical contact with it due to Covid-19 etc.