3 Signs Bitcoin's Move Above $7K Might Just Hold
The world's largest cryptocurrency by market capitalization exploded in price Tuesday, jumping $600 or about 8% in 30 minutes to break away from what had been suppressive bear market conditions. But entering Wednesday, bitcoin (BTC) is changing hands at $7,438.72 on Coinbase and showing signs it might continue its ascent. In fact, when viewed on longer timeframes, it appears that the trend is changing, this time in favor of the always-optimistic bulls. But just how reliable is this move? So far, there are three general tools traders are using to analyze the markets in a quest to confirm that the change in trend will have staying power.