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The cryptocurrency news today show that there is a good momentum lately and the total market cap has surged to $217 billion recently. The volume is at $86 billion today but what is important according to analysts is that the price of BTC is on the verge of breaking its 2-month range and the 7-month downtrend during this week.

However, the price could not break out the downtrend and is stuck in a new range. The big question now is – is the price of Bitcoin in a bull market or is it expecting continuation downwards?

Today’s Bitcoin price news show that the price of BTC is showing an apparent breakthrough in the $7,600 level. After the upwards breakout, the price started to rally towards the next resistance zone which was at $8,400. This is also the downwards trend line at which the price is currently hovering.

The price of BTC is also moving in a crucial range and a breakout above $8,400 would lead to a breakout of the 7-months downtrend. Still, losing the $7,600 level as support would lead to an acceleration downwards and the price is likely to be continuing towards $6,400 or $5,800.

In fact, the total market cap is showing a similar outlook for the Bitcoin chart – and a clear breakout upwards during the past week as the $195 billion resistance broke to the upside. The breakout resulted in a push towards $211 billion and now, the market cap is above $217 which indicates that a bullish momentum is finally here.

If you are wondering how are altcoins performing recently, they are doing reasonably well against the USDT pairs.
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The altcoin news and rumors suggest that if people want to trade altcoins, it is compulsory to use both BTC and USDT charts as this would give a clear view of the movements of the coin.