Bitcoin (BTC) Eyes $4,000 to Close out the Volatile Holiday Week


The holiday week has resulted in some significant volatility, both in the stock and cryptocurrency markets.

Now, as the week comes to a close, Bitcoin (BTC) is eyeing the important psychological resistance line of $4,000 after trading down around $3,600 on Thursday. The largest digital currency is currently up 7.7% on the day to $3,925.

BTC/USD via CoinCodex

The cryptocurrency market, as tracked by the AltDex 100 Index (ALT100), is up over 11.3% Friday, while the entire crypto market is up 8.7% to $131.9 billion.

Some of Friday’s notable gainers include Ethereum (+19.6%), Decred (+26.5%), NEO (+15%), Bitcoin Cash (+19.8%), Zilliqa (+23.6%) and Cardano (+15.3%).

Moving forward, Bitcoin bulls will likely look for a bounce to the $5,000-$6,000 range to confirm the trend reversal, while bears will need to push BTC below $3,200 to start the next leg down.

More: AltDex 100 Crypto Index
Similar: Mark Dow: If Bitcoin (BTC) Breaks $3,190 Then Even HODLers Need to Bail

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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