The major crypto is rising again, trading around $5,254.28 on April 18.
The bullish breakout of Bitcoin price at $5,299 level will expose the coin to $5,574 resistance level which may be its target in case the bulls increase its pressure. Should the resistance level of $5,229 holds, BTC price may continue its ranging movement.
According to John McAfee, Bitcoin will be used for payments and receipts instead of the US dollar, Euro, and Chinese Yuan, and will hit $1M by the year of 2020.
Bitcoin price may resume uptrend movement in case the Bulls increase their momentum and break up the resistance level of $5,299. Should the Bears defend the resistance level of $5,299, the current market situation may persist.
Bitcoin took a break but may still rise – reports Dmitriy Gurkovskiy, chief analyst at RoboForex.
Should the Bears increase their momentum and break down the support level of $4,988, then Bitcoin price will continue downtrend movement towards $4,742 level. Should the support level of $4,988 hold, BTC may bounce and face the north.
Bitcoin investors remain undeterred with the latest news of China’s mining ban as Bitcoin price continues to confidently surge northwards.
The breakup of strong resistance level of $5,299 by the Bulls with increased momentum will make Bitcoin price to rally towards $5,574 resistance level. Should the Bears defend the level the second time, BTC price may fall.
The BTC is still going up on Apr 4, currently trading at around $5,020.50.