BTC Price: $7,075
Last 7 Days: 23.10% 1month: 38.23% 12months: -20.06%
A very bullish past week for the “Digital Gold” of cryptocurrencies Bitcoin with the price rallying to a new 9-month high, and volume surpassing $10 billion within 24 hours. $7,000 was a known resistance area for the price of BTC/USD; however the bulls did not care for this as the price increased further through $7,200, again through the resistance of $7,350 even testing $7,500 and settling well above the 100 hourly simple moving average.
After a swift correcting Bitcoin traded below the $7,200 support level and tested further down towards $6,700-6,800 support area. The current resistance now sits at $7,155 and with a clear break above here we would see levels of $7,300 again. The general trend is of a strong uptrend and with a break through the resistance levels we could see $7,500 in the short term. Beware the pullback though as it is rare to see a straight line move without some form of profit-take!
6thMay: $15,737,171,804 (BTC Price of $5,746)
13thMay: $25,239,468,509 (BTC Price of $7,079)
60% increase in trading volume in the last 7 days