The Bulls have reached $ 4,200, but need $ 4,500

Bitcoin gained 3.79% on Saturday. After a 1.21% rise on Friday, Bitcoin ended the day at $ 4,212.2.

The first half of the day was relatively tight and Bitcoin evolved into a $ 50 range before a large-scale crypto rally went off.

Falling from a low of $ 4,013.8 at the start of the day, Bitcoin hit a high of $ 4,255 at the end of the day before easing off. The rally saw Bitcoin break through the major resistance levels of the day. More concretely, Bitcoin avoided a late sale of the third major resistance level at $ 4,212.93.

For the current week, bitcoin is up 9.9% (Monday to Saturday) and ends the day at $ 4,200 for the first time since^th December.

Somewhere else

In the top 10 cryptos, it was mostly green during the day. EOS and Bitcoin Cash ABC have led the way. The pair rose 10.07% and 8.06% respectively. Ethereum followed closely, gaining 7.42%.

Binance has lost 0.45% to the current trend.

For the current week, there have been no outliers. EOS and Bitcoin Cash ABC, up 48.19% and 23.44%, respectively, led the charge from Monday to Saturday. Ethereum, up 19%, Litecoin up 17.84% and Stellar's Lumen, up 17.69%.

Tron's TRX (+ 7.36%) and Bitcoin are lagging behind. The pair was the only top 10 cryptos to have double-digit wins.

The widespread rally in encrypted markets drove market capitalization to $ 141.87 billion at the time of writing. It was a rebound for the whole market. Market capitalization increased by $ 20 billion during the week to reach its highest level of the year.

Volumes also rose sharply during the month, as investors were dragged all the way through the week.

On the news side, there has been a lot of upward discussion by the most prominent members of the technology community to attract investors. In a broader adoption perspective, reports that the Galaxy 10 will soon be released by Samsung would have a crypto-currency wallet app also contributed. The ease of use would certainly provide crypto holders with greater flexibility to use cryptocurrencies as an alternative to fiat money.

Investors will now watch SEC news about Bitcoin ETF applications. A decision could be made at any time, but not later than the first week of March.

Enter the cryptocurrency trade today

At the time of writing, Bitcoin was up 1.48% to $ 4,274.6. Saturday's rally continued late into the night. Bitcoin went from a start of the day at $ 4,212.2 to $ 4,282.4. The main levels of support and resistance of the day were not tested early.

For the day ahead

Keeping above $ 4,250 in the morning would encourage a $ 4,300 race to bring the first major resistance level to $ 4,306.87 before a pullback.

We expected Bitcoin to reach $ 4,400 and the second major resistance level at $ 4,401.53 a day.

For bulls, the next target is $ 4,500. However, we can expect a lot of resistance to reach $ 4,400.

If the levels did not exceed $ 4,250, Bitcoins could retreat despite the low of $ 4,212.2 in the morning, bringing $ 4,100 into play.

Except for a widespread sale of crypto, we expect Bitcoin to move away from levels below US $ 4,100 and from the first major support level to US $ 4,065.67.