Bitcoin Breaks Resistance As Other Altcoins Awaken This Monday

Bitcoin breaks resistance as this new week starts and forms a totally different pattern after spending the entire weekend consolidating above $10K. Now the altcoins as well are making all the moves to the upside so in today’s altcoin news we find out whether this could be the start of the big revival for the cryptocurrencies.

For the larger part of the past 24 hours, the bitcoin price remained sideways at about $10,000 and has kept it above the 50-hour moving average but now below the 200 where the next level of resistance lies. There are also no moves back into the four figures field since the slight dip below $10 on Saturday. When the Asian trading session started in the afternoon, bitcoin has started to move with it with a further push to the upside. Over the past hour, bitcoin has lifted out of his previous position and touched the 200 MA on the hourly timeframe. This has taken the number one cryptocurrency up to a five day high of $10,700 according to tradingview.com.

On the 4-hour chart, BTC has touched the 50 moving average which is about to start the death cross over the slower 200 if the downtrend continues. The indicators are currently providing the resistance point. In a rare move, the altcoins actually started making plans before bitcoin’s run-up to the next resistance level. Bitcoin breaks the resistance and Ethereum is now chasing down the $200 again in a 7% surge on the day. The Further gains are looking as if Bitcoin has now started to also run-up. XRP made some gains of about 8% on the day taking it to the $0.288 so now it only has to reclaim the $0.30 position and hold the gains before any bigger upswings occur.

On the other hand, Litecoin also did very well today adding about 7% to reach $78 as it successfully got out of the LTC dusting attack. Most of the altcoins which are in the top ten list, added more than 5% at the moment as total market capitalization reached up to $277 billion at the time of writing as we saw in the latest cryptocurrency news.