Bitcoin holds above $8,200, while altcoins follow slowly

The world's number one cryptocurrency has turned bullish again, when it broke above the $8,200 price level, while altcoins are slowly following BTC's lead, except for Litecoin, which is taking a few steps back from its recent surge.
Bitcoin holds above $8,200, while altcoins follow slowly
The total cryptocurrency market capitalization increased to $265,298,582,954 from $253 billion on Wednesday, while the average daily trading volume settled around $63.5 billion.
Amid the growing trading activity, the world's number one cryptocurrency settled above $8,200 after a strong upside move on Wednesday, which has held into Thursday.
Bitcoin is currently trading at around $8,252, and is showing a gain of 1.38% on the day, however, BTC remains vulnerable to correction due to a series of selling orders located above the critical $8,200.
BTC/USD chart provided by Tradingview


Ooh, are we finally breaking up the range?

If we break some more upwards here, the 'bearish' weekly candle of last week is done in one week and we can continue the nice upwards trend.
See Crypto Michaël's other Tweets
Trader Josh Rager in the meanwhile points out that BTC is currently sitting above a 7-year trendline that has only broken once as support, which was in November 2018.
'If BTC can hold above $7200 it looks bullish for continuation', Rager tweeted.
Bitcoin 7-year Trendline

In case you haven't seen, is currently sitting above a 7-year trendline that has only broken once as support ( Nov. '18)

Bitcoin reclaimed support above the trendline in April & if BTC can hold above $7200 it looks bullish for continuation
124 people are talking about this
While most of the altcoins are seeing green candlesticks today, Cardano is taking a slight beating on the day, with losses above 4%, while Litecoin claims the title of the worst performing cryptocurrency of the day, with a loss of more than 5%.
Both Bitcoin Cash and Bitcoin SV are taking the lead in the Top 10, with gains of 6.61%, and 10.38%, respectively.
Powered by Blogger.