Bitcoin (BTC) Price Prediction – May 8
The Bitcoin price briefly hit $10,000 yesterday and it’s testing that level again today.
BTC/USD Long-term Trend: Bullish (Daily Chart)
Resistance Levels: $11,500, $11,700, $11,900
Support Levels: $8,800, $8,600, $8,400
BTC/USD is currently wildly fluctuating around the $10,000 level as the bulls and bears are engaged in a furious tug of war. Looking at the daily chart, if the bulls do take control, but according to the technical indicator, they may not face any strong resistance levels all the way to $11,300 because the RSI (14) has gone up further in the overbought zone and is hovering around 80.93.
Yesterday, the Bitcoin price briefly hit $10,000 level, the highest it’s been since February this year before falling back down. At the opening of the market today, after testing the low of $9,681, the coin is currently trading … Read more