Bitcoin edged higher and reached a new high of 44,240 earlier today. It has registered a new higher high signaling potential for further growth ahead. It's traded at 43,919 at the time of writing. BTC/USD increased as much as 5.89% from yesterday's low of 41,779 to today's high.
In the last 24 hours, the price of bitcoin is up by 4.21% and by 7.52% in the last 7 days. Bitcoin's growth helped the altcoins to grow as well.
BTC/USD Strongly Bullish!
BTC/USD extended its growth after escaping from the triangle pattern and after stabilizing above the 41,693 resistance. Now, it has registered an aggressive breakout through the weekly R1 (43,251) signaling potential upside continuation.
After the aggressive breakout, we cannot exclude a temporary drop. BTC/USD could test and retest the R1 before resuming its growth.
BTC/USD Outlook!
The current breakout above the weekly R1 (43,251) could validate more gains at least towards 45,501 static resistance. Also, the breakout could represent a long opportunity. Technically, a larger upwards movement could be activated by a valid breakout above the 45,501.
