Insights > Technical analysis > Bitcoin unstoppable, will we see the $20,000 mark by the end of the year?

Bitcoin unstoppable, will we see the $20,000 mark by the end of the year?

18 November 2020

Temps de lecture 4 minutes

Julien Moretto

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The weeks we’ve just experienced on the cryptocurrency market, and in particular on Bitcoin, are exceptional. Bitcoin appreciated again by 18% over the week, returning close to its historical highs at 15,100 ($18,000). This is a continuous increase that we have been observing since the beginning of October, with Bitcoin now gaining around 70% for the last month and a half. Neither the uncertainty surrounding the US elections nor the second wave of epidemics in Europe have hindered the rise of Bitcoin. On the Altcoin side, the rise is often less impressive, even though Bitcoin is pulling the whole market up. The best performance over the last few weeks, however, was achieved by Bitcoin. Ethereum, for its part, is coming back close to the 2020 highs it had reached at the end of August.

All indications are that this is not just a pump, but that we are witnessing the early stages of a powerful bull market in Bitcoin. However, as we approach the symbolic $20,000 threshold, it is more a time for profit taking than blind buying. If this bull trend continues to build healthily, the market will breathe and offer retracements that will be much better opportunities to enter buying or strengthen positions. Here is our Analysis of key levels in detail.

  • According to CoinGecko, market capitalization now exceeds $500 billion, a threshold not seen since January 2018.
  • Bitcoin’s dominance remains high at 64.6%, up from 63.9% last week.
  • The best performance of the top 50 is to be attributed to Waves with +25% over one week.

We invite you to discover our analysis in video (in french and dated from November 17) :

Bitcoin (BTC)

Coinhouse recommendation :
Partial profit taking

  • Certainly, Bitcoin’s rise is impressive and it is impossible to predict precisely where it will stop. But the current zone, around 14,500 / 15,200 ($17,000 / 18,000) is more strategic to take profits than to make new purchases. If you have long positions taken lower on Bitcoin, we therefore advise you to take between 20 and 33% profit on your position this week, depending on your risk profile. The idea is to keep some capital to buy or strengthen when the market breathes and offers a bearish correction. The area between €10,500 and 11,400($12,700 and $13,800) would be the most favourable for buying. The long-term uptrend will remain intact as long as the price stays above €9000 ($10,600).

Ethereum (ETH)

Coinhouse recommendation :

  • Ethereum (ETH) posted a more modest increase of 5.6% in one week to stand at €401 ($475) on November 18. Close to its August 2020 high of $490, Ethereum is nevertheless struggling to make highs, with Bitcoin taking most of the increase observed on the market since October. It remains on interesting levels to buy in a long-term perspective. However, we are not immune to see Ethereum correcting with Bitcoin, and only resume a more significant rise in a second stage. For the time being, we therefore advise to keep Ethereum. Aggressive buyers will be able to enter in position if we break the 415€ ($495). On the other hand, if you are heavily exposed to ETH, you will have to sell if Bitcoin starts to correct strongly and Ethereum’s price falls below €370 ($440).

Litecoin (LTC)

Coinhouse recommendation :
Buy on support

  • Litecoin (LTC), wakes up and earns 25% over a week to be €61 ($72). The $40/45 pivot finally acted as a support. It was then the break of the $65 level at the beginning of the week that gave a buy signal. The zone to take profits is between $86 and $96. Entering the current price zone is possible but more risky. This buy position will have to be resold if the price falls below $60.

Tops & flops of the week (top 50 marketcap)


1- Waves: +25,9%
2- Litecoin (LTC): +24,7%
3- (YFI): +23,2%


1- Maker (MKR) : -7,8%
2- coin (CRO): -6,7%
3- Filecoin (FIL): -5,9%

In this article, all information is given for information purposes only, even if it has been established from serious and reputable sources. It does not constitute an offer by Coinhouse to buy or sell digital assets, or an offer to provide services on digital assets, nor does it constitute advice, encouragement or a recommendation to operate on the digital assets in question. It constitutes simple information over which the user retains absolute control. We inform you that if you choose to invest in digital assets, you must be aware of our general terms and conditions of sale ( and accept the various risks listed and defined on our legal warning page (

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