In the last 24 hours, BTC price has broken through two key resistance levels. The current Bitcoin price is about $9,174.80. In the daily range, this cryptocurrenci is at 3.48% plus
BTC price breaks the line of resistance
Yesterday's Bitcoin session opened at $8,837.38 and closed at $9,181.02. This was a change of $343.64 - or 3.89%.
After a few days of stubborn combat, the cryptocurrency again crossed the $9,000 resistance line and then climbed over $9,200. Currently, the price of Bitcoin is about $9 174.80.
Are cryptocurrencies blooming this year?
That's what thinks Chris Dixon from Andreessen Horowitz - venture capital company. In one of his interviews for Fortune he admitted that he is expecting spring on the market. He compared the world of Bitcoin to the artificial intelligence industry, which was not easy at first. Despite numerous ups and downs, Dixon believes that the crypto industry has a chance to flourish!
Today, most altcoins show a strong correlation with Bitcoin's course. Among the projects that have done best in the last 24 hours are: Bitcoin SV (2.67%), Monero (+2.66%), Litecoin (+2.26%), Bitcoin Cash (+2.07%) and Ether (+1.59%).
Peter Brandt says that price should be a strong signal for investors
While most people are convinced that technical analysis is not enough to determine the future price of Bitcoin, a veteran of stock trading - Peter Brandt has a different opinion on the subject.
In one of his tweets, he wrote that the actual price is often more important than any indicator when it comes to determining future movement - but we find it difficult to agree with that, due to the emotional nature of the cryptocurrency market.
Of course, Brandt pointed out that looking at a Bitcoin's price chart every day will not give traders any indication. In his opinion, there have only been a dozen or so days in the last few years when the BTC chart signaled successive movements to those who were able to read them correctly.