Bitcoin price rallied yesterday making fresh yearly highs after consolidating for four trading sessions above the $8,000 mark. Bitcoin breached the descending trend line with resistance near $8,100 on the daily chart and BTCUSD adding to bullish momentum. As of writing BTCUSD adds 4.75% at $8,489 with the capitalization at 154.25 billion.
Yesterday we discussed the chance of a break above the resistance at $8,200 as the momentum is positive for bitcoin. While today as the bulls are in the driver’s seat a close above the 8,500 mark might initiate another leg higher.
Yesterday in the CME we had the start of the options on bitcoin futures trading with the volumes very low as expected. There are some 54 options changed hands in the first trading session and their notional value is about $2.3 million.
Source :
https://www.investingcube.com/topic/bitcoin-btcusd/
