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Cryptocurrency had an exciting week last week with a Bitcoin price of over $ 5,000. Reports were quickly reported, indicating the end of the bear market and rising bulls.
Whether you believe it or not, Bitcoin has nevertheless seen a sharp rise which has seen it reach levels thanks to a record of buying pressure, while Bitcoin has exceeded $ 5,000 for the first time. times since November 2018.
Since then, Bitcoin seems to have calmed down a bit but is still above $ 5,000 (at the time of writing). Thanks to the stabilization of Bitcoin and the search for a consolidation zone, analysts have tried to evaluate what could be the next step for Bitcoin. According to the popular shopkeeper, Crypto Thies, a much higher movement could well be reserved for Bitcoin.
Thiès recently went on Twitter to explain his reasoning for this prediction. He explains that, as it stands, Bitcoin could receive support of $ 4,300, where it was originally sold, and $ 4,700 when the 200-day moving average of assets is currently maintained . On the other hand, Bitcoin will struggle to exceed $ 5,500 and may even reach the $ 8,000 mark.
But the trader has made it clear that in the coming weeks, Bitcoin could look for a way to test the resistors in the event of a breakup.
$ BTC
Quick thoughts-Supports $ 4.7k and $ 4.3k
Resistances at $ 5.5k, $ 5.7k, $ 6.6k, $ 8.4k-Confident that we touch again at least $ 4.7k, but I see an upward attempt first
-1wk BB Sqz + 2wk: a candle above midBB suggests going from the macro to the top BB on 2wk to $ 8.4k in the coming weeks pic.twitter.com/2e4KThdf8r
– Crypto Thies (@KingThies) April 7, 2019
The trader crypto writes that even though he is confident that the main cryptocurrency will eventually reach less than $ 5,000, he expects Bitcoin to rise higher in the coming weeks.
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