₿itcoin breaks through key level

Submitted by Joey Wagner on Thursday, April 23, 2020 - 17:14.

Today Bitcoin futures broke above what was resistance at $7,440, the 50% Fibonacci retracement level. As of 6 PM EST BTC futures on the CME are trading up 6.6% at $7,630. The high of today took pricing back to levels not seen in well over a month and signals higher pricing to come. Although this move could take a week or two we see BTC testing current resistance at the 61.8% retracement level sitting at $8,200.

According to top cryptocurrency trader Josh Rager, “The BTC price needs to record a daily close above the $7,400 level for bullish continuation.

It is worth noting that this huge uptick coincided with another green day on Wall Street, which means that this rally could be more than a flash in the pan. The S&P 500 is currently up by 1.53 percent.”

I think it only a matter of time and by next week’s end we will be seeing prices close at least $400-$800 higher.