Bitcoin Price Surges to $81,300 Before Pulling Back

Bitcoin's price surge overnight reached as high as $81,300 before pulling back to around $79,000, according to chart analysis from Verified Investing chief market strategist Gareth Soloway.

Soloway pointed out a few technical warning signs on the chart, including growing upper wicks on recent candles and a trend line that was previously support now acting as resistance after being broken and retested.

The cluster of resistance levels in the $80,000 to $83,000 region is also causing concern for traders.