What traders say about this Bitcoin pump: '$5K, then $5.5K'

02 Apr, 2019 | Updated: 02 Apr, 2019
by Jelmer van der Dussen
Price Action
What traders say about this Bitcoin pump: '$5K, then $5.5K'

With the cryptocurrency community excited for the first time in a year after the Bitcoin pump today, what are traders saying about the next BTC move? Where is Bitcoin heading, where is the support and where is the resistance? 

According to eToro analyst Mati Greenspan, Bitcoin traders have been eyeing the $4200 for quite a while now, and as soon as the resistance broke a lot of buy orders were triggered. Famous Crypto Twitter trader @TheCryptoDog says the support for Bitcoin is now $4250, and $5000 and $5500 are the next stops if Bitcoin can keep its momentum.

YouTube trader NicTrades is not convinced that the downtrend is over. 'But there are reasons to think that it might be'. A drop to the $4300 zone would mean bad news for Bitcoin now, she thinks. 

Read more: Why is Bitcoin pumping today?

Other traders are either celebrating, looking for explanations or sharing their new targets for Bitcoin.

And a special mention for Samson Mow who could explain the exact reason why Bitcoin pumped today... and was so kind to let us quote him!

Bitcoin PUMPS! 3 possible reasons! Subscribe to the Chepicap YouTube Channel for more videos!

Read more: Crypto community goes crazy after Bitcoin and altcoins pump: 'OG's knew'

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Read more about: Bitcoin (BTC)


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