Bitcoin (BTC) Price Prediction for May 7
The post Bitcoin (BTC) Price Prediction for May 7 appeared on BitcoinEthereumNews.com.
The market is bouncing back today, according to CoinStats. BTC chart by CoinStats BTC/USD The price of Bitcoin (BTC) has risen by 3.28% since yesterday. Image by TradingView On the hourly chart, the rate of BTC is in the middle of the local channel, between the support of $96,226 and the resistance of $97,717. You Might Also Like As most of the daily ATR has been passed, there are low chances to expect sharp moves by tomorrow. Image by TradingView On the bigger time frame, the situation is bullish. The price is about to break the resistance of $97,470. If it happens and the bar closes above that mark and with no long wick, the rise may continue to the $98,000 mark. Image by TradingView From the midterm point of view, traders should focus on the $98,871 level. If the weekly candle closes above it, the accumulated energy might be enough for a test of the $100,000 range. Bitcoin is trading at $97,458 at press time. Source: https://u.today/bitcoin-btc-price-prediction-for-may-7
