Bitcoin has hit a new 2020 trading high above the $14,100 resistance level after polls showed the Biden campaign gaining ground. Technical analysis shows that a sustained breakout above the $14,100 level could cause the BTCUSD pair to rally towards the $15,000 level. Crypto traders are still cautious as fears over a contested election could still cause Bitcoin to turn sharply lower.
The BTCUSD pair is only bullish while trading above the $13,500 level, key resistance is found at the $15,000 and the $15,200 levels.
If the BTCUSD pair trades below the $13,500 level, sellers may test the $12,700 and $11,500 levels.
