BITCOIN PRESENTLY REMAINS BULLISH AFTER ATTAINING $8900 YEAR HIGH by E. Okorie, 28th of MAY, 2019
On Sunday 25th of May, 2019, Bitcoin price attained another year high of $8900 - 1BTC. This was after a Hugh fight for domination between the bears and the bulls. It The Bitcoin price broke the $8400 resistance benchmark and swiftly appreciated in value before closing within the $8900 region. Bitcoin price still remains stable along the $8600 price. However, there was an minor hourly bearish trend today, price gained support on the $8500 level which is above the former resistance level of $8390. Various analysis shows that this price level may hold any minor upset. We are in doubt if any new consolidation level will form beyond here. Nevertheless, we should keep in mind that that bitcoin volatility holds no boundaries especially when huge volume of trade is as stake.
In this view, even though the bearish tend to break this support level of $8500 further down to $8120, the bullish marketon the other hand is gathering momentum to breakout the $8900 resistance level in other to reach a $10,000 price. There is no clear indication that the bearish trend can reach this level ($8120) as this is currently a weak trend which should be over within the next few hours .
In a nutshell, Bitcoin price presently remains bullish.