The flagship cryptocurrency has gained nearly 1,650 points in market value over the last few hours.
Bitcoin would have to slice through the $33,000 level to validate this optimistic outlook.
Interestingly, the supply of Bitcoin on trading platforms has dramatically decreased over the past week.
If this were to happen and BTC suffers a weekly close below $27,000, the next area of interest may sit much further down at around $21,000.
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