Bitcoin Bulls Break Resistance, Where Will BTC Go Next?

edited February 9 in General

When crypto markets surged by $10 billion, Bitcoin led the charge when it punched through resistance at $3,500 and then again at $3,600 just 15 minutes later. For weeks BTC has been lulling around these levels unable to muster the strength to get past them. Only yesterday Bitcoin fell to its lowest level for 2019 when it briefly touched $3,390. The break below $3,400 must have triggered a raft of buy trades which sent BTC surging 9% to reach an intraday high of just below $3,700. Daily volume has surged from $5 billion to $7.8 billion, the highest it has been since the bounce off the bottom in mid-December. BTC is currently holding at around $3,650 at the time of writing. The volatility has returned again as Bitcoin hits a 15 day high the day after posting a seven-week low. The big question now is where will it go next? Regardless of the big green candle for the day, the market is still trending down and making lower highs and lower lows.

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