Today Bitcoin had a massive gain of over 10%, moving from $4820 up to $5388. No doubt the trend remains heavily bullish, but there is a very strong resistance, and it should be very interesting to watch BTC/USD reaction around these levels.
The resistance is located between $5500-5600 and this is where 127.2% Fibonacci retracement level is, based on the last corrective wave down.
If BTC will reject the resistance, many altcoins could have a chance for a healthy growth. This is due to the fact that investors will be seeking alternative coins to invest it during BTC correction or consolidation.
However, if BTC will go beyond $5600, then $10k for 1BTC might be just around the corner.