With Bitcoin over $6,000, could we finally see more upward momentum?

09 May, 2019
Analysis
With Bitcoin over $6,000, could we finally see more upward momentum?

Bitcoin has finally broken back above $6,000, reaching a new 2019 all-time high. Will we see more upward momentum for Bitcoin, and could we possibly see it break $10,000 before the end of the year?

Bitcoin has been on an impressive recovery over the past few months, turning around the horrific effects of the 2018 bear market to recover nearly 45% since the mid-February low. The impressive run has seen traders begin to turn bullish on bitcoin as we look for more upside in 2019. 

BTC/USDT Chart provided by Tradingview 

The bitcoin surge from $4,200 up to $5,200 was expected to face a correction that never came, instead BTC has pushed upwards breaking $6,000 resistance in the process. The question now is, will BTC be able to turn $6,000 into support and look for more upward momentum? 

Market sentiment appears to be split on a possible restest of new highs or a retrace below $6,000. Either way, BTC has seen an impressive gain in price over the last three months and there could be more to come with the next halving only 12 month away.

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Read more about: Bitcoin (BTC)

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Can bitcoin hold $6,000 resistance and continue its upward push?

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