Bitcoin blasts above its February high

In last week’s report, we showed you that Bitcoin ($BTC) was testing resistance of its prior swing high from March 9 (near the 42,500 level).

We said that if Bitcoin broke out above that level, then the real test of resistance would come around the 45,500 to 46,000 level (horizontal price resistance of the February highs).

On March 27, $BTC convincingly broke out above the 46,000 resistance level, as shown on the daily chart below:

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$WAVES chart

Bitcoin breaks out above key level of short-term resistance

Over the past few weeks, we’ve been discussing how Bitcoin ($BTC) has been stuck in “no man’s land,” chopping around indecisively in a range.

However, conditions improved over the past week and we have definitely noticed a significant change of character in cryptoland.

Although still confined within its sideways range of the past seven weeks, $BTC….

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