On 17th May, Bitcoin fell to $6,600 and rose to $7300 following buying pressure. On 26th May, Bitcoin, surged above $8900. It has now dropped to $7600.
It is currently testing the $7,700 resistance area and the 23.6% Fib retracement level of the last drop from the $8,131 high to $7,502 low. If there is an upside correction, the price could test the $7,800 resistance area.NewsBTC
These fluctuations are commonplace in the cryptocurrency world. But since Bitcoin is arguably one of the world’s most popular and largest cryptocurrency by market capitalisation, there is a lot of people’s money on stake, who want to know what to expect.
So here it is. Bitcoin will continue to see bullish cycles. However, there is a high chance that the prices will face resistance in the $7,800-$7,900 range.