Bitcoin rallied by more than 5% in a matter of hours following yesterday evening's daily candle close. It is now trading well above the $8,400 level and the 200 exponential moving average (EMA) on the daily chart, both of which have acted as bitter points of resistance over the past month. What's most important now is whether Bitcoin can close tonight's daily candle above the $8,400 level, which would provide confirmation for the breakout. As a continued surge to the upside seems most likely, the next logical stopping point would be the $8,830 level of resistance that suppressed price action in June last year before the eventual rally to $14,000. The $9,250 level may also come into play, although arguablyThe post Bitcoin surges to two-month high amid major breakout appeared first on Coin Rivet.
