Recently, various forecasts have been circulating that the bullish trend is about to reverse.
It is far more likely to deploy a strong upward movement correction.
According to market expert Jim Wickoff, this Bitcoin rally still has room for a sequel, with the bulls still taking advantage in the short term.
Kitco’s chief market analyst, Jim Wickoff, is convinced that the flagship cryptocurrency remains in an uptrend despite a weak start to the week.
In his new dai ly-chart-alert-Normal-chart-consolidation-in-an-upt ren d-May-4.html “target =” _ blank “> market update, Wikoff writes that bulls remain strong within the side a trade we have been seeing recently.
“An upward price trend is still available on the daily chart within the current price action. The Bulls still have a short-term technical advantage. ”
Bitcoin started the week with signs of weakness, reaching a daily low of $ 8,528 on the Bitstamp exchange.
On May 3, BTC again crossed $ 9,000, which seems to be encouraging a new wave of sellers.
Leading cryptocurrency has already reported seven consecutive green candles on the weekly chart, which happened only once before – before Bitcoin begins its ascent in the second quarter of 2019.