Bitcoin’s nightly breakthrough over the resistance he previously faced at $ 7,200 has allowed the cryptocurrency to expand the momentum significantly. This recovery again confirms that the cryptocurrency lows in early March could mark a long-term low as the subsequent upward trend has shown signs of high sustainability but also BTC demand. This assumption is also underpinned by an interesting event that has been observed when looking at the cash volume of the cryptocurrency that has seen unprecedented growth during the recent surrender struggle.
Bitcoin continues to build up momentum after the $ 3,700 recovery
In the aftermath of Bitcoin’s monumental drop to $ 3,700 lows on March 12, the cryptocurrency saw a sustained recovery that led to highs of $ 7,500 – the point at which the cryptocurrency came under significant selling pressure.Although testing this level led to a slight decline, the bulls were able to build massive buying pressure at $ 6,600, which led Bitcoin to the current price of $ 7,160.This momentum, which has expanded overnight, has led BTC to overcome several key resistance levels, causing the popular cryptocurrency to head back towards its strong resistance toward $ 7,500.