The major crypto continues falling on Thursday, trading at around $5,768, says Dmitriy Gurkovskiy, Chief Analyst at RoboForex.
The bulls will be required to gain enough momentum in order to break out from the upper trend line of the symmetrical triangle before noticeable volatility in the Bitcoin market. Traders should be patient and watch out for the break out before placing a trade.
Should the bears increase their momentum and break down the accumulation territory of $6,137, Bitcoin will head towards the lower accumulation territory of $6,032.
In case the bulls increase their momentum and sustain it, there is a possibility that the pair would head towards the north with very strong momentum.
Thomas Lee has updated his Bitcoin price forecast for this year. Now he predicts that it will reach $22,000 in 2018 instead of $25,000.
AI-based platform Cryptics is launching its minimum viable product (MVP) with the aim to allow platform participants to purchase forecasts, build fund infrastructures and receive more advanced features available on the platform. The product will become available on April, 30.