Bitcoin’s epic surge over the weekend has brought some much needed elation back for crypto enthusiasts who have spent the best part of last year battered and bruised. The chart patterns playing out however look uncannily similar to previous market cycles so a pullback is expected.
Bitcoin went parabolic over the weekend notching up its first $1,000 gain since 2017. By the end of last week BTC had out performed many of its brethren and had reached critical resistance just below $6,400. Unperturbed, ts surged past this on Saturday adding over a thousand dollars to reach a new yearly high of $7,480 by Sunday afternoon.