- After breaking above $5,200 on Wednesday, BTC/USD spiked higher past $5,300.
- Bitcoin buyers must fight to defend the support at $4,900, otherwise, declines could continue.
Bitcoin investors have been all smiles in the last couple of days. The surge in the price of the largest digital asset came as surprise to many starting around $4,000 and extending the gains above $5,350. After breaking above $5,200 on Wednesday, BTC/USD spiked higher past $5,300 but encountered resistance at $5,351. However, the buyers could not sustain the growth neither did they defend $5,350 level and BTC/USD pulled back below $5,000.