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Bitcoin Rallies Above Key $3,800 Resistance Level, Tests $4,000


Building upon the positive start in the new week, Bitcoin continued the bullish rally on Tuesday, hitting above key $3,800 resistance level consistently.

Almost all through the day, BTC was seen testing resistance near $4,000, for the first time in five weeks.

The leading cryptocurrency by market capitalization rose by $134, or 3.50 percent, in a 24-hour session starting Monday.

As of writing, BTC is changing hands at $3,947 on Conbase, giving strong indication that it can any time cross the $4000 mark.

At one point, a new monthly high was formed at $3,967.

Also, Bitcoin's 24-hour trading volume has jumped to more than $10 billion.

After reaching its recent peak of $4060 on January 8, Bitcoin never scaled that height.

BTC is is maintaining the upward momentum it gathered in the new week, when it touched $3800 for the first time in a month.

Within a period of just the last two days, Bitcoin increased its value by $382, or 11 percent, which is seen as a significant short term bullish trend.

The main driving force behind Bitcoin's latest price surge was said to be Ethereum, which rallied recently towards the $150 resistance level.

Generally, the cryptocurrency markets are in th green zone, with all but two of the top 50 crypto currencies posting a rise in price during the last 24 hours.

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