April produced solid results for Bitcoin and speculators are geared for dynamic trading in May.
Short-Term Rally Seen Past Half Day for BTC
Bitcoin has staged a short-term rally the past half day. After making strong gains last week the digital asset did find itself coming under some price pressure.
However, the cryptocurrency is trading near 9100.00 U.S Dollars per coin the last few hours. Short term support looks to be about 8800.00 U.S Dollars, and resistance appears to be the 9500.00 juncture.
Dynamic Results Coming in May?
A long-term look at Bitcoin shows it is still fighting within a band which is below its February highs. But Bitcoin has fought its way back from lows made during the 3-month bear market in digital assets, and the gains it made in April were dynamic.
The question for speculators now is if April’s results will prove sentiment has shifted into a buyers’ market and can be sustained in May.
Bitcoin Price Forecast
Every new Bitcoin analysis as it publishes, today's technical signal and key levels, live price — on one page.
See all Bitcoin forecastsIn the short term, we believe Bitcoin could be positive. The mid-term and Long term we are unbiased.
Yaron Mazor is a senior analyst at SuperTraderTV.
SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.