Over the past few hours, Bitcoin (BTC) and its altcoin brethren have begun to quietly rally. As of the time of writing, BTC is up 3.5% in the past 24 hours, finding itself trading for $5,240 apiece, according to data compiled by Coin Market Cap.
This move isn’t as notable as early-April’s 15% daily gain, which saw retail and institutional trading activity ignite as BTC rallied past two key resistance levels, $4,200 and $4,600. However, the recent influx of buying pressure comes after cryptocurrencies experienced a rapid 10% sell-off during the weekend, ensuring that bears don’t get a chance to follow through.
If Bitcoin Breaches $5,600, $6,000 May Be In Store
Per a recent chart from Credible Crypto, with Tuesday’s move, BTC is poised to soon break out of a triangle pattern, which has depressed the asset and slowed trading activity over recent days. If the upper bound of the triangle breaks as…
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