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As the Crypto Markets Enter a Slumber, Bitcoin May be Gearing up For a Surge Back To 5,400



Despite witnessing some exciting price action over the past several weeks, the crypto markets are currently taking a slight breather as Bitcoin tepidly advances into the $5,200 region.

Although the recent upwards momentum appears to have fizzled out, analysts are now expecting Bitcoin to make another upwards push back up towards its strong resistance level around $5,400 – which could open the gates for significantly further gains, assuming that BTC is able to break above this level.

Bitcoin Finds Stability Above $5,200 As Crypto Markets Climb Slightly

 At the time of writing, Bitcoin is trading up 2.4% at its current price of $5,230 and is up slightly from its weekly lows of roughly $4,950. The recent price climb appears to be part of a larger consolidation pattern, as BTC has now been stuck between roughly $5,000 and $5,400 since early-April.

$5,400 was first established as a level of resistance one-week ago when Bitcoin surged to this price level before incurring a significant…





Read Full Story : NewsBTC

2019-04-18 00:00:37

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