Bitcoin has just broken above $7,800 for the first time since July 2018, after a new wave of bullish momentum takes over the crypto market.
In the last hour, Bitcoin buyers have added an extra 5% gain to Bitcoin’s increasing value as the American trading session heats up.
Trading volumes have also risen by over $1.2 Billion according to data from Coinmarketcap, which has helped catapult BTC over a major resistance level at $7,440.
Historically, this particular level has been a significant problem for BTC on 3 occasions ; namely where it created the first major pullback during the Q4 2017 rally, and when it prevented BTC from recovering during the July crash of 2018 (see below).