After breaking decisively above the important resistance level of $4,100 yesterday, Bitcoin (BTC) has continued to climb and is now nearing its next key resistance level of $4,200 that has proven to be incredibly strong over the past month.<\/p>\n
Analysts now expect Bitcoin to incur some major volatility in the near future as it approaches this price level, and one analyst believes that a decisive break above $4,200 could lead BTC to surge towards $4,600.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading up over 1% at its current price of $4,160. Yesterday was the first time in a long time that BTC was able to break above $4,100 without being swiftly pushed back down, but its strongest level of resistance remains at $4,200.<\/p>\n $4,200 was first established as a resistance level in late-February when Bitcoin rapidly climbed from $3,600 to over $4,200, where it found strong selling pressure that sent it spiraling downwards towards $3,700.<\/p>\n On this past Saturday, this price level was further proven to be a resistance level<\/a>, as BTC\u2019s price jumped from below $4,100 to slightly above $4,200, which is where it then dropped back to $4,100.<\/p>\n Although this has not yet been established, it is possible that Bitcoin may find itself caught in a fresh trading range between $4,100 and $4,200 in the near future if it continues to find support at the former price and resistance at the latter price.<\/p>\n Financial Survivalism, a popular cryptocurrency trader on Twitter, recently spoke about the important levels of resistance that lie ahead for Bitcoin and noted that a break above $4,200 will likely lead the crypto towards its 200-day EMA, which exists at $4,600.<\/p>\n \u201cExpecting volatility in crypto soon. $BTC is on a weekly green 9 while testing resistance cluster from: horizontal, trendline, & the 200 week EMA. If it makes it through $4,200 then the next major area of resistance would be the 200 day EMA which waits at $4,600,\u201d he explained.<\/p><\/blockquote>\n Expecting volatility in crypto soon. $BTC<\/a> is on a weekly green 9 while testing resistance cluster from: horizontal, trendline, & the 200 week EMA. If it makes it through $4,200 then the next major area of resistance would be the 200 day EMA which waits at $4,600. pic.twitter.com\/8Dq51sZB7G<\/a><\/p>\n — Tyler Coates (@Sawcruhteez) April 1, 2019<\/a><\/p><\/blockquote>\n\n