- Bitcoin (BTC) rose above $12,900 for the first time in over 17 months backed by consistent levels of volume.
- Recent price action could set scope for $13,700 in the coming day on the back of strong bullish momentum.
- The hourly chart reveals extreme levels of volatility presenting harsh trading conditions for the average trader.
Bitcoin has risen above $12,900 for the first time since Jan. 21, 2018, touching a new high for 2019 at $12,919, according to CoinDesk’s BPI data.
On June 26 at 03:00 UTC, Bitcoin broke out from a bullish pattern, rising in quick succession above $12,000 on strong momentum and high volatility. As of press time, the price has dropped back to above $12,500.
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