Bitcoin $BTCUSD surged during the 10/12 global session, surpassing the previous record high that was around $5000. BTCUSD Daily Chart(click to enlarge)- There's not much to say from this chart except the obvious, that BTCUSD is bullish.- Now if there is a retreat, we should treat the 5000 area as possible support.- Below that we should limit any bearish outlook to 4500. Meanwhile, $LTCUSD also had a key rally today that broke a consolidation resistance:LTCUSD Daily Chart(click to enlarge)- It should be noted that the overall picture is bullish, with price above the 100 and 200-day simple moving averages and the RSI holding above 40 for the most part since it cracked 70 back in December 2016. - The rally during the 10/12 session cracked a month-long consolidation resistance, which should open up the previous highs above 95. In the short-term, we might want to expect some resistance around 65, a previous support pivot.