Today we see a momentum shift in the general sentiment for Bitcoin as we climb around 10% with a trading volume of $9.44 Billion USD.
We are also simultaneously seeing a crucial moment in the overall Alt Market Cap as we approach a year long resistance. The rise in volume over the last month will be a pleasing sight to bulls around the globe as we look to penetrate this resistance.
At the time of writing we are currently trading at $31,797,945,695 daily volume which is a significant increase from the beginning of February. The below chart shows that around $20 billion more is being traded daily since this time period.
Our in house Technical Analysis expert Fintech Daddy believes that we need to break above $4229. which would mean trading above the 55MA.
Accumulation has just started rising similar to the Early December Period.
Will $BTC run out of steam? Or will we see further movement to the upside?
At The Daily Chain we are paying extremely close attention to the $4200 level.
Alex Libertas
The Daily Chain – The Leading Site for Unique and Informative Daily Crypto Content
