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Bitcoin gains 7%

FXStreet (Mumbai) - Bitcoin surged today after prices remained well supported on technical charts since the beginning of the week.

The BTC/USD is trading 7.2% higher at 389.15, compared to the previous session’s close of 364.00. The virtual currency is on its way towards USD 400 levels, and may test the previous cyclical high of USD 408.20. Moreover, the rise in prices is accompanied by rising volumes at a time when the illegal websites are being taken down by authorities in the US and Europe.

Meanwhile, the BTC/EUR is up 7.25% to trade at 309 levels, while the Coindesks’s Bitcoin Price Index is up 7.53% at USD 394.63.

Bitcoin Technical Levels

Bitcoin has an immediate resistance at 397.89, above which prices can rise to 408.20 levels. On the flip side, support is seen at 384 and 375 levels.

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