• Bitcoin rises inside accelerated impulse waves 3 and (3)
• Likely to reach multi-year resistance level 19490.00

Bitcoin continues to rise strongly inside the weekly accelerated impulse waves 3 and (3) which previously broke through the two round resistance levels 14000.00 and 15000.00 – as can be seen from the weekly Bitcoin chart below. The breakout of the resistance levels 14000.00 and 15000.00 strengthened the bullish pressure on Bitcoin – which led to the breakout of the weekly up channel from the start of 2020 – accelerating the Bitcoin’s ascent further.

Given the unstoppable uptrend clearly visible on the weekly Bitcoin charts – the price is likely rise further toward the next powerful, multi-year resistance level 19490.00 (former top of the weekly uptrend from 2017) – from where Bitcoin is likely to correct down on profit-taking.