Bitcoin just recorded its first three-month winning streak since late 2017.
The leading cryptocurrency started the month of April at $4,127 and ended at $5,393, according to CoinMarketCap. BTC managed to hold above $5K after a massive pump around midnight on April 2nd, which has been largely attributed to a single trader who made a calculated purchase designed to dramatically boost the price.
Crypto traders are closely watching the $5,200 mark, with Venture Coinist’s Luke Martin feeling bullish as Bitcoin holds onto its gains despite the recent Bitfinex and Tether controversy.
$BTC looks like it's prepping for a move higher after 3 days of nearly the same price following the Tether drop.
Resistance -> support flip around the 5240 level. pic.twitter.com/aDwD3TW1lE
— Luke Martin (@VentureCoinist) April 30, 2019
Crypto trader DonAlt told his 92,000 followers it looks like previous resistance has turned to support.
This is the first time in ages that BTC has broken resistance & closed above it.
We've finally got support below us that might actually hold, turning my big timeframe bias bullish.
I'll stick with swing longs until that support fails.
Buys in green would be juicy. pic.twitter.com/zczGMjmIhY
— DonAlt (@CryptoDonAlt) May 1, 2019
Right now, the crypto market is mixed, with Bitcoin up 0.94% at $5,312. Ethereum is up 0.75% at $159.97, and XRP is down 1.61% at $0.3043.
Technical analysts at large are watching Bitcoin’s support above $5,000, offering bullish outlooks on Ethereum and Litecoin.
Live Bitcoin News – BTC resumes uptrend, could revisit $5,650
Ethereum World News – XRP could struggle to recover versus Bitcoin
Blockonomi – Litecoin bulls staging strong rebound To $85