Bitcoin is dancing with the 61.8% Fib level with a previous drop from $5,321.82 and a low around $4,950. BTCUSD buy 61.8% Fib level price 5000 Area. Target 5700 and 6000 level . BTCUSD not breakout 6000 area then sell position is best target 4000 area . Technically 6000 area is strong Resistance in BTCUSD, this area break and stable buy this level .
The movement north will have to overcome the seller congestion at $5,259.60 - $5,314.02, $5,368.45 and $5,422.85. The confluence at these levels are.
$5,368.45: Previous high 1-day, pivot point 1-day R1, 23.6% Fib level weekly and Bollinger Band 4-hour upper.
$5,422.85: Pivot point 1-day R2 and pivot point 1-week R1.
The movement north will have to overcome the seller congestion at $5,259.60 - $5,314.02, $5,368.45 and $5,422.85. The confluence at these levels are.
$5,368.45: Previous high 1-day, pivot point 1-day R1, 23.6% Fib level weekly and Bollinger Band 4-hour upper.
$5,422.85: Pivot point 1-day R2 and pivot point 1-week R1.
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Bitcoin experienced its biggest bull rally at the end of 2017 where it hit highs close to $20,000. An analyst says that that particular bull rally was based on nothing other than speculation. However, the largest did not stay up for as it reversed the trend throughout 2018 to the extent of trading lows close to $3,000.
However, in the last four months, the entire market has been experiencing a resurgence with gains recorded across the board especially this April. A renowned market researcher claims that Bitcoin’s next rally is potentially bigger compared to the previous one. The researcher suggests that the rally will see Bitcoin break above its all-time high around $20,000.