The flagship crypto bounced off the 5-month highs and is trading around $5,427.45 Thursday.
Higher bearish pressure will break down the demand level of $5,459 and it may extend to the $5,255 demand level. In case the demand level of $5,459 holds, Bitcoin price may bounce and have its high at $5,574.
The increase in bullish pressure will push up Bitcoin price towards $5,459 resistance level; in case the level does not hold BTC may have its high at $5,574. Should the level of $5,459 holds, the Bears will push the coin down towards $5,255.
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.
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.
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.