Bitcoin\u2019s epic weekend pump has continued into Monday as gains are holding. BTC is still above $9k but has hit resistance once again. Analysts and traders are looking for its next move and some are now eyeing altcoins for bigger gains.<\/p>\n
Bitcoin surged through resistance yesterday to record a new 13 month high<\/a> of just north of $9,300. The move resulted in 8 percent on the day for BTC has it pumped from around $8,600 to its highest price of 2019. A small pullback occurred but it retested this price a few hours later forming a double top on the day.<\/p>\n A larger pullback then took Bitcoin back down to $8,850 but it has since recovered again and is heading upwards during the morning\u2019s Asian trading session. At the time of writing BTC was trading at $9,100, marginally higher than yesterday morning.<\/p>\n Daily volume has also pumped back up to $23 billion taking Bitcoin\u2019s market capitalization to $162 billion, higher than that of the total crypto market back in March. Bitcoin market cap has not been this high since May 2018.<\/p>\n Traders and analysts have been looking at the Ichimoku Cloud, which is a collection of technical indicators that show support and resistance levels, as well as momentum and trend direction. The weekly candle has opened inside the cloud which is bullish and could result in further upwards momentum;<\/p>\n \u201c$BTC – found resistance right at the lower cloud and has opened the weekly candle inside the cloud. This represents the highest time frame that #bitcoin has breached into the cloud…with resistance at just above $10K…\u201d<\/p><\/blockquote>\n $BTC<\/a> – found resistance right at the lower cloud and has opened the weekly candle inside the cloud. This represents the highest time frame that #bitcoin<\/a> has breached into the cloud…with resistance at just above $10K… pic.twitter.com\/UVDSMsa0bF<\/a><\/p>\n — BIG Chonis (@BigChonis) June 17, 2019<\/a><\/p><\/blockquote>\nWhat is Next For Bitcoin?<\/h2>\n
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