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Old 03-25-2019, 08:47 AM
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Resistance at $4,200 will be tough to break, says Tim Kelly
Bitcoin prices traded marginally higher on Monday, extending recent gains that saw the best-known cryptocurrency log its fifth consecutive winning week.

In Monday morning trade, a single bitcoin fetched $ 3,968.40, up 0.3% since Sunday's level at 5 p.m. Eastern time. Its weekly win streak is the longest since April 2018.

Read:U.S. stock futures indicate modest losses ahead for Wall Street (MarketWatch.com futures-indicate-fresh-losses-ahead-for-wall-street-2019-03-25)

What are analysts saying:
"BTC's feel at the very moment is that it wants to probe the recent highs and see how strong the resistance is sitting at the $4,200 level," wrote Tim Kelly, founder, and CEO of BitOoda, a digital asset regulated broker-dealer.
"Unless large buying volumes come into the market, probing is all we shall see at that resistance level. We believe it will take a serious force of buying to take those levels out to the upside."

Read:Wall Street Embraced Bitcoin As the Next Big Thing. But Crypto Slumped and the Party Got Postponed
(https:// Bitcoin's Big Bang on Wall Streets Ends With a Whimper - Barron's)

Altcoins and futures
Altcoins -- digital currencies other than bitcoin -- were off to a subdued start to the trading week. Ether, gained 0.3% to $ 135.12, Litecoin fell 0.2% to $ 59.14, Bitcoin Cash was unchanged at $163.10 and XRP was up less than 0.1% at 30 cents.

Bitcoin futures drifted lower early on Monday. The Cboe Global Markets April contract fell 0.4% to $ 3,965, while the CME Group March contract was off 0.3% at $ 3,960.

Read: Mueller aside, why stocks could be about to deliver explosive gains

(MarketWatch.com aside-why-stocks-could-be-about-to-deliver-explosive-gains-2019-03-25)
- Aaron Hankin ; 415-439-6400; [email protected]

(END) Dow Jones Newswires
03-25-19 0832ET
Copyright (c) 2019 Dow Jones & Company, Inc.
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