Bitcoin has been showing good performance since last week, and its price is constantly raising. Though its value declines for some time yet, this short term decline was not able to hinder its good performance and has maintained the support at six thousand dollars ($6,000).
For some time the support depreciated to the five thousand five hundred mark ($5,500) and this value is considered to be new support, but the Twitter expert analyzes that this decline is for a short time and it will return back to a higher level.
via Trading View
The slight difference in support level is due to the buying and selling pressure, and the experts are hopeful that this slight fluctuation will not affect the value of BItcoin much. As many tweets regarding this are evident
$BTC – I'm leaning towards another leg up if there's a strong reaction from the ~$5300 area.
If there's a bounce before then, I may be interested in taking a short position from ~$5530 for a day trade,
— UB (@CryptoUB) April 24, 2019
Some experts are even hoping that the Bitcoin has the potential to gain new highs and may cross the six thousand dollars mark ($6,000).
$BTC – possible scenario
Bitcoin continues to make its way up to the peak interest area at $6400+
Lots of historical volume at this level and would create peak fomo
This is where people who bought previously at $6k have the opportunity sell to fomo buyers before a retrace pic.twitter.com/XaUZvByhB2
— Josh Rager 📈 (@Josh_Rager) April 24, 2019
However, the increase in the value of Bitcoin is slow and is making advancements at a slow pace. A slight decrease from five thousand six hundred dollars to ($5,600 to $5,400) needs a long time for recovery but, the experts are hopeful it will recover.
The remarkable recovery from five thousand six hundred dollars to six thousand dollars ($5,600 to $6,000) is also possible which will be regarded as the new height for the assets.
There is a lot of fluctuations on the trading chart, but the important point is the maintenance of the trend for a longer time. It is speculated that any new move can be possible by today that means the start of some new trend.