Watch These Bitcoin Price Levels as Cryptocurrency Reclaims $100,000 Level
Bitcoin surged above the closely watched $100,000 level on Thursday for the first time since early February.
Thursday's strong breakout above a consolidation period sets the stage for a potential retest of the cryptocurrency’s record high of $109,000 set in late January.
Investors should watch crucial overhead areas on bitcoin's chart around $107,000 and $120,000, while also monitoring key support levels.
The legacy cryptocurrency rallied along with stocks after President Donald Trump announced that the U.S. had reached a trade agreement with the U.K. The president also said that further deals could be on the way and expressed optimism about trade talks with China that are slated to take place this weekend.
Bitcoin’s price had fallen sharply between February and April, weighed down by uncertainty about tariffs and their potential impact on the economy, as well as disappointment with the pace of reforms by the Trump administration to support the crypto industry. With the latest surge, bitcoin is nearly 40% above last month’s low and up 10% from the start of the year.
