sludgefeed.com
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.
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.