Bitcoin breaks resistance to hit $4,107, Is a weekend rally surfacing?


via ZyCrypto https://ift.tt/2HPgTf2 Technical Indicator Suggest That There’s More Pain Ahead For Bitcoin (BTC) Bulls

Bitcoin’s performance in the last 24hrs has been a significant one and this is reflected in the big bull’s ability to make a sheer climb that has now placed it in the $4100 mark. More precisely, Bitcoin is currently trading at $4157 at the time of this writing. This is even more impressive as Bitcoin seems to swiftly be heading to the nearest resistance level of $4200.

Bitcoin's performance in the last 24hrs has been a significant one and this is reflected in the big bull's ability to make an unclimb that has now placed it in the $4100 mark. More precisely, Bitcoin is currently trading at $4157 at the time of this writing. This is even more impressive as Bitcoin seems to swiftly be heading to the nearest resistance level of $4200. While the current structure of the cryptocurrency market is showing itself to be highly promising, the early hours of yesterday was a rather risky one for both top dogs and altcoins. With slight bearish trends surfacing, altcoins attained losses between 2% to 5%. Bitcoin was not left out, although having only attained very mild losses (0.5% to 1% against the USD), the big bull had barely managed to remain above the $300 mark with an opening trading price of $4068, while a daily all time high of $4113 was attained shortly into the day, the bears suppressed BTC lower than its opening price as the coin fell back to $4,034 and later closed a little higher with $4,098. A possible weekend rally The weekend is showing itself the most promising for Bitcoin. Yesterday's price of $4,113 is the second highest price Bitcoin has seen for the month of March , following its current trading price which has now set itself for the $4200 mark. The possibility of this is unquestionable as Bitcoin had previously hit this level back in February when the big bull opened at $4,145 and went on shortly after to hit its first yearly all time high of $4,210. With the weekend beginning on a bullish path, Bitcoin is already up by 4.32% at the time of this writing. An increase of $2 billion to its market cap communicates that traders are pumping big into the big bull. While weekends are usually a fair trade as the market tries to find balance, the bulls have decided to input a little more green lights and a little less red lights as gains continue to pour in.

While the current structure of the cryptocurrency market is showing itself to be highly promising, the early hours of yesterday was a rather risky one for both top dogs and altcoins.

With slight bearish trends surfacing, altcoins attained losses between 2% to 5%. Bitcoin was not left out, although having only attained very mild losses (0.5% to 1% against the USD), the big bull had barely managed to remain above the $4k mark with an opening trading price of $4068, while a daily all-time high of $4113 was attained shortly into the day, the bears suppressed BTC lower than its opening price as the coin fell back to $4,034 and later closed a little higher with $4,098.

A possible weekend rally

The weekend is showing itself the most promising for Bitcoin. Yesterday’s price of $4,113 is the second highest price Bitcoin has seen for the month of March, following its current trading price which has now set itself for the $4200 mark.

The possibility of this is unquestionable as Bitcoin had previously hit this level back in February when the big bull initiated at $4,145 and went on shortly after to hit its first yearly all-time high of $4,210.

With the weekend beginning on a bullish path, Bitcoin is already up by 4.32% at the time of this writing. An increase of $2 billion to its market cap communicates that traders are pumping big into the big bull.

While weekends are usually a fair trade as the market tries to find balance, the bulls have decided to input a little more green lights and a little less red lights as gains continue to pour in.

The post Bitcoin breaks resistance to hit $4,107, Is a weekend rally surfacing? appeared first on ZyCrypto.

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