Where is Bitcoin going next? Will it be $5,000 or $10,000?

Bitcoin's recent uptick, wasn't able to hold above the $8,000 price mark for more than 24 hours, which triggered some analysts to claim that $5,000 is still a possibility, while others remain confident that we will see Bitcoin at $10,000 any time soon now.

Full time trader and crypto analyst, going by the Twitter handle, Teddy, took to Twitter to suggest that a retrace to the $6,000 price level is entirely possible.

'Any trend regardless of the bias has to retrace and confirm the direction by bouncing off a key moving average ( 21ema here)', he tweeted.

#bitcoin - $BTC

Weekly chart 👁️

Any trend regardless of the bias has to retrace and confirm the direction by bouncing off a key moving average ( 21ema here) - very healthy for the trend.

It has been 70days since the last contact - historically it ranges between 70 and 90 ⏳ pic.twitter.com/A2pmqoPJ98

— TEDDY 🌐 (@teddycleps) June 10, 2019

The same sentiments were suggested by crypto trader and analyst, Dave the Wave, who recently took to Twitter to state that the world's number one cryptocurrency could slowly retrace to $5,000 by the end of 2019.

According to the parabolic curve expert, Bitcoin will fulfill its 10-year logarithmic growth curve by slowly descending towards the $5,000 price level in the coming months.

Unsugar-coated 'worst case' scenario. pic.twitter.com/Q9bZrYvMlC

— dave the wave (@davthewave) June 6, 2019

However, our own in-house technical analyst, Lourens Pepler, suggested that if momentum can get behind BTC, then it is possible for Bitcoin to continue on towards $10,000.

Lourens is joined by crypto analyst, Rhythm Trader, who took to Twitter to suggest that although Bitcoin is bouncing against a near-term downwards trend, BTC should be able to continue it's longer-term trend move towards the $10,000 price mark.

Bitcoin is bouncing against a near-term downwards trend.

The break should see resistance slightly above before continuing it's longer-term trend move towards $10,000.

Trading $BTC alone? Come and chat with me and other traders: https://t.co/zS6tF6XBrJ pic.twitter.com/3lJ7vXf7gw

— Rhythm (@Rhythmtrader) June 10, 2019

So what do you think? Will Bitcoin drop towards the $5,000 price mark, or will we see BTC rise towards $10,000? Let us know in the poll below.

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