Bitcoin price has spiked. Anyone in cryptocurrency knows this and is waiting with bated breath to see what happens next. While Bitcoin is known for its volatility, it has shown a bullish rally in the last few days. Although the surge could be faced with a pullback and there is an air of caution surrounding the price of the leading token and the rest of the cryptocurrency market, sentiment at the moment is high.
Cryptocurrency prices are rising
The trend of Bitcoin price increases has naturally affected the altcoins within the industry. Ethereum price is facing a near 10% increase, Ripple price shows an increase of over 5%, Litecoin price has surged by almost 20% and EOS price has gained over 12%. Holding the rank of sixth place, the contentious Bitcoin hard fork Bitcoin Cash has shown a whopping increase of nearly 40% in day-on-day trading.
The Bitcoin price rally
Looking at the token from a post-spike perspective using trading analysis.
Support and Resistance’s Brian Swan (@fiboswanny) gives us an in-depth look into the trading charts for Bitcoin.
The rally up to the $5000 mark is exciting news as it broke through the $4200 level while feeling the resistance as it should have, and continued on up. If $4750 can hold, then it might spell another rally for Bitcoin price to increase again.
Remember to invest using logic and not emotion – we encourage safe and happy trading!