Bitcoins price has once again set a new high for 2019 after breaking out from a bullish pattern on the daily chart, reaching as high as $8,905 before retracing slightly.
At 19:00 UTC on May 26, the worlds largest cryptocurrency by market capitalization broke from an ascending triangle pattern on the daily chart, courtesy of being held beneath $8,250 for an extended period of time.
The move to fresh 2019 highs has come at a time when prices were beginning to creep to the downside, touching as low as $6,600 on May 17 before a large amount of buying pressure pushed prices back above $7,300 within the same day.
Since then prices have once again jumped by 22 percent, first rising above $8,500 on Sunday night in bullish fashion, then reaching over $8,700 within half an hour.
Further Read: https://www.coindesk.com/bitcoin-hits-new-2019-high-above-8900
Bitcoin is so bullish today that it reached the $8,900 zone before slowing down and now steadying at around $8,700+ which is a good run considering that it just took within hours. Now, we are looking if the King of Coins can be able to finally breach the $9,000 level. I am getting optimistic that within June, bitcoin can be able to break the $10,000 barrier. Soon a big FOMO will land on bitcoin and that can be the time when there can be a parabolic jump...though personally I still prefer a steady growth over a sudden one.