- Bitcoin, at the time of writing this article, was trading above $5,500 after five days of sluggish pullback
- The intraday bullish crossover ramped up the market as the price trend of BTC formed consecutive higher high at $5,686.94, until the time of writing
- Today, the coin has spiked from the utter bottom of $5,000, marking a progression of over 13%
- BTC to USD gains support from the 50-day and 200-day moving average on the intraday chart as the price spikes
Bitcoin gains intraday momentum as it rises above $5.6k after five days of a downward correction. The coin even tested support below $5k once due to loss of momentum within the said five days and lost the steady support from the daily Moving Averages.
Bitcoin Price Analysis
Although, the volatility remains intact as we can’t really believe the intermittent price rise and dip as per the Bitcoin value predictions.