Is Bitcoin going to $8.4k next?

08 Apr, 2019 | Updated: 08 Apr, 2019
by David Robb
Price Analysis
Is Bitcoin going to $8.4k next?

As Bitcoin continues to stay above $5000 for the time being, many analysts are making predictions about where it might head next. Twitter user @KingThies claims that BTC could test the $8400 level within the next few weeks.

Bitcoin (BTC) - $5,196.80

Image from Gyazo

The BTC price is currently sitting just below $5200, which is roughly the highest level that it tested before dropping back down to $4900 a few days ago. 

According to this analyst, a new support has been found at around $4.7k, which may well be tested soon. Below this, there is also the $4.3k level that Bitcoin was hovering around for many months before this week's spike.

A number of resistances above the current level are also identified, with $8400 being a particularly important one. The last time the price saw this point was in May 2018, on the way down from a $9.8k high before levelling out around $6k for most of 2018.

Image from Gyazo

@KingThies's analysis suggests that the $8.4 resistance could be tested within the next 2 weeks.

Read more: 9 Bitcoin price predictions for 2020 by crypto experts10 times Bitcoin was declared dead… and survived

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Read more about: Bitcoin (BTC)

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