Category: Crypto News, News
Bitcoin (BTC) Price Prediction for May 7 — TradingView News
The market is bouncing back today, according to CoinStats.CoinStats”>
The price of Bitcoin 
BTCUSD has risen by 3.28% since yesterday.TradingView”>
On the hourly chart, the rate of BTC is in the middle of the local channel, between the support of $96,226 and the resistance of $97,717.
As most of the daily ATR has been passed, there are low chances to expect sharp moves by tomorrow.TradingView”>
On the bigger time frame, the situation is bullish. The price is about to break the resistance of $97,470. If it happens and the bar closes above that mark and with no long wick, the rise may continue to the $98,000 mark.TradingView”>
From the midterm point of view, traders should focus on the $98,871 level. If the weekly candle closes above it, the accumulated energy might be enough for a test of the $100,000 range.
Bitcoin is trading at $97,458 at press time.
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