Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, NEO, EOS: Price Analysis, April 13

On April 12, Bitcoin saw the biggest one-hour trade volume in its history, as price rallied by more than $1,000 in a period of thirty minutes.

This spike in price was not preceded by any news, which points to a possible whale buying back bitcoins that they sold at higher levels or an entry of a large institutional player.

The number of short positions also dropped from a high of 44,000 contracts on April 11 to 26,000 contracts on April 12.

They can trail their stops higher if Bitcoin struggles to break out of the 50-day SMA.It looks like a bottom, but the price needs to sustain at the higher levels to confirm the sentiment.

If the bulls succeed in breaking out of the $600 levels, the next move should be to $725 levels.

Traders can initiate long positions at the current levels around $779 and keep a stop loss below the recent lows of $610. The target objective on the upside is a move to $974.Above the 50-day SMA, the BCH/USD pair can rally to $1,115 levels.

Instead of booking profits at the overhead resistance levels, traders should raise their stops higher because Bitcoin Cash is known to make large moves once it turns positive.

XLM/USDWe have been bullish on Stellar because of the positive divergence on the RSI. Yesterday, price confirmed our positive view as it broke out of the 20-day EMA.The XLM/USD pair is currently trading at the resistance line of the descending channel.

Traders can hold their positions and add more on a successful retest of the breakout levels.

Traders can book partial profits at $9.5 to reduce their risk and raise the stop loss on the remaining position to $5.5.We anticipate a retest of the breakout level of $7.28, which should hold.