Bitcoin Price Breaks Medium-Term Resistance after Surging 8% Near $4,000
The Bitcoin market came back on its bullish track during the February 18’s trading session.
The Bitcoin-to-Dollar rate (BTC/USD) on Monday established an intraday high towards 3917, up 8.08% since the open. The pair rallied through the Asian session and continued its upside momentum after the European market opened. Around 1600 UTC, BTC/USD also broke through a strong resistance trendline of the medium-term triangle pattern discussed in our Bart Simpson analysis. Have a look:
BITCOIN PRICE 4H CHART | SOURCE: COINBASE, TRADINGVIEW.COM
Last week, we had left the Bitcoin market in a bias conflict. The cryptocurrency was forming what looked like a bull flag. Nevertheless, as the flag was generated out of a one-day rally of February 8, we were unsure about its sustainability in the near-term.
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