Bitcoin Testing 2019 Highs While the Stock Market Dips

The price action remains strong in bitcoin even while the stock market is selling off.

With bitcoin trading in the 13,200 area it is testing the intraday highs seen in 2019.

Leveling Up???

If you look at the chart you can see price has slowly grinded higher while consolidating a bit.

This is happening after the explosive move through the 12,300 level. Even with the slow grind higher in recent days price is still a bit overbought.

A pullback to 12,300 could occur and still leave the price action in a bullish mode. However, the bulls seems to be in firm control at the moment.

It will be interesting to see if price takes a breather here being at an important pivot point.

On a closing basis price has already taken out the 2019 closing high. Intraday highs are the last hurdle which means a price of 13,900.

That is the next upside target I am watching.