- The crypto market got the week off to a positive start after an afternoon spike in Bitcoin pushed the top crypto to its highest price since June 11 and led to gains across the market following last week’s sideways trading.
Data from TradingView shows that after Bitcoin spiked above $28,600 late on Sunday, bears attempted to hammer it back below $28,000 but met stiff resistance from bulls at $28,200. After bears exhausted their effort, bulls reversed course and pushed Bitcoin to a daily high of $29,291 in the afternoon on Monday and look poised to push for additional gains.
Analysts at Eight Global noted that the sideways trading over the past couple of weeks was “Not surprising after the strong push of price upwards over the last couple of months.” As for what price level to keep an eye on as a signal that the bull market is in full swing, crypto trader Sheldon the Sniper posted the following tweet highlighting $31,000 as the level that needs to be breached in order to remain bullish.