Bitcoin Price Prediction: Is BTC to Break $5,300 Resistance or Will It Retreat to $4,800. What’s More Likely?


Bitcoin Price Prediction: Is BTC to Break $5,300 Resistance or Will It Retreat to $4,800. What’s More Likely?

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.

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Upon reaching $5,240 mark, Bitcoin has ceased its overwhelming growth, which made some traders a little bit skeptic. Just one short pause and people start foretelling BTC dumps. What to believe? We know that Bitcoin price predictions cannot be trusted unquestionably. However, many appear to have a grain of truth about them. Let’s check out Twitter posts to see what the crypto community thinks about Bitcoin’s short-term future.

Let’s start with good news first: Bitcoin futures are also selling well – the volume is growing, which only lays stronger foundation for Bitcoin’s prosperity:

One more piece of proof that Bitcoin is growing naturally and steadily:

That means that unlike Ethereum, Bitcoin is gaining value that’s backed by its market cap and financial activity around. A very good sign!

Will BTC break the $5,300 resistance?

At the moment, Bitcoin has stopped its incredible growth for a while, but traders are sure that it’s simply the calm before the storm.

Based on the RSI index, there’s a very bright future ahead:

Other technical indicators are also helping to form Bitcoin’s future breakout. We’re anticipating EMA & VWAP cross:

If we manage to break $5,2600 resistance, something very epic should happen to BTC:

But what if..?

At the same time, 1D analysis shows that there’s a possibility for BTC to touch the $4,800 level or lower:

According to 1W analysis, a fall is also expected, though it won’t be lower than $5,000:

Yet, even if BTC gets back to $4,800 (it’s a very likely scenario, though we can still avoid it), that will be a temporary occasion.

Even though Bitcoin seems to be a little bit stuck at the very moment, there’s no reason to worry. All technical indicators and its current trading volume are signifying further growth. It’s just a short pause before we witness the next glorious moves of the most famous cryptocurrency.

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