The Weekend BreakOut Has Come! BTC/USD Smashes Through $400, 2600CNY

[bitcoinmarkets]

The $380 resistence was history finally, as the second test broke through and we got well above $400 Sunday morning. The support is holding for now and if that prior resistence level becomes a solid support, we could be in for a nice ride this coming week.

China spot markets broke 2600 CNY on the move, as the CNY premium to USD exchanges broke 3% in the FOMO pump:





The higher CNY premium to USD indicates a pretty bullish sentiment. Remember in the November 2015 $500 pump the CNY premium got increased throughout.



Quarterly premium at OKCoin looks healthy still at 2.5%. We've made a pretty big move up, considering we were at $300 weeks ago and now we're at $400, that's a solid 33% move. There may be a pullback after this kind of extension up.

[mobnepal]

Yes its nice to see price going beyond 400$ but i think the upcoming week there will be pullback to around 380 again. But like previous week it will try to gain more than 400$ stable price after this week. I am not good at long time trading but for day trade this fluctuation are quite good.

[n691309]

I am happy today when i saw that the price has been increased to $390s, next week will be interesting.

[talks_cheep]

newbies, please contain your enthusiasm. We're now at 388, pullback seems to have started already. We're on a downward trajectory, at least at the moment. We can't seem to stay at or above 400 for long. Why? Btc ain't worth 400. Yet.

[LuckyYOU]

newbies, please contain your enthusiasm. We're now at 388, pullback seems to have started already. We're on a downward trajectory, at least at the moment. We can't seem to stay at or above 400 for long. Why? Btc ain't worth 400. Yet.

Indeed, but it's still nice to see that we can reach this and that bitcoin has potential to grow.

As long as I see somewhat of a potential of bitcoin growing, I will be still be into it.

[lexuz]

I am happy today when i saw that the price has been increased to $390s, next week will be interesting.

Hope so!! we still see positive way and i guess we don't need see price will jump high but jump a little like now is will be interesting and not risky bitcoin price will broken

[richardsNY]

I am happy today when i saw that the price has been increased to $390s, next week will be interesting.

What's up with next week. Is there something special that will happen? I woke up today and see the price is higher then wen I went to bed. I am also very happy with that. Especially when I see my coins increase in value