CryptoComes

Bitcoin: $5,400 before $5,500 again?

COINBASE:BTCUSD   Bitcoin
For now, May has started positively for BTC, as its rate is located in the uptrend; however, it is still early to judge about reaching $6,000 in a few days.
Our yesterday Bitcoin price prediction came true, as the $5,500 was broken at some crypto exchanges. Currently the quotes are trying to consolidate and hold this important level.

Analyzing the hourly graph, the RSI indicator is overbought, and may come back to the 60 points zone. Respectively, the possible short-term scenario is a small correction to $5,400 before achieving again the $5,500 mark.


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