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πŸ“ˆ Price Predictions
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Bitcoin (BTC) Price Prediction: A Consolidation at $5,000 or Gaining Efforts Before the Next Bullish Run

  • Alex Dovbnya
    πŸ“ˆ Price Predictions

    BTC sides movement near $5,000. Are bulls already exhausted?

Bitcoin (BTC) Price Prediction: A Consolidation at $5,000 or Gaining Efforts Before the Next Bullish Run

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Days earlier, the Bitcoin’s rate rewrote the highs since November, at some point exceeding $5,300. However, it is not yet possible to push further growth, and BTC experienced a corrective pullback after touching these levels.

Until now, movements in the cryptocurrency market are more similar to trading based on indicators and algorithms, rather than restoring a new round of interest among investors due to favorable news. If so, then the next focus for the market is $5,300. The 200-day moving average is passing through this level. Overcoming it from the bottom up can be a significant signal for investors.

BTC/USD chart by TradingView

If Bitcoin is able to gain a foothold above, one can expect that more and more willing people who are guided by such technical signals will connect to purchases.

If not, then a serious correction may threaten Bitcoin, since short-term players will try to get out first, fixing a rather impressive growth rate over the past few days.

The price of Bitcoin is trading at $4,986.62 at the time of the writing.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry β€” from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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