For the past three months, Bitcoin (CRYPTO: BTC) has struggled to break out of a narrow trading range. Bitcoin has traded as low as $18,000 and as high as $25,000. With a recent surge over the past week, Bitcoin is now testing an important price level: $20,000. 

The stakes are high. If Bitcoin fails to break out here, investors might assume that it will be locked into the same trading range for the rest of the year unless something changes dramatically. However, if Bitcoin surges above $20,000 and stays there, then this might be your last chance to buy the dip. You're not probably going to see Bitcoin at $18,000 again.

On Sept. 26, the S&P 500 fell to its lowest level of the year. Inflation concerns, recession fears, and Fed tightening have all weighed heavily on the stock market. But at the same time, Bitcoin is up more than 6% over the past week. The day after stocks fell, Bitcoin broke through the psychologically important $20,000 level.

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Source Fool.com