The first two weeks of April was certainly pleasing that BTC price rises from $4,000 to $5,600, signaling a long-waited bullish run, despite a slightly rollback at the end of the month. As we all know that Bitcoin reward halving will happen in May 2020. Throughout its entire trading history, Bitcoin started another bullish cycle about a year prior to the block reward halving. This happened both in November 2011, about a year prior to the splitting in December 2012, and in August 2015, about a year before the halving in July 2016. What will BTC price trend be in the next half year of 2019?
What will BTC Price be in May 2019?
BTC has crossed long-lasting 12-month resistance, which happened with not much volume but it’s still a great breakout. And now it has stabilized above $5,000 resistance zone and it’s time to set new targets. BTC is making serious headway and has confirmed a further move up. We have broken this trendline, but also notice how strong the MACD looks, RSI is curing upwards and we are making this rounded bottom.
BTC Trading Strategies in May on Bexplus Exchange
If no force majeures happen, the price can reach $6,000 till the end of the month. However, more likely it will consolidate at the level of $5,500. But in case of a bulk sale on the cryptocurrency market, Bitcoin can drop below $4,800. How to trade with BTC futures trading?
- Short BTC if it fails to stabilize at $5,500
After the correction since the end of April, if it fails to break above $5,500 again, it maybe chance to open a short position, and the next support level will be 5,500.
- Long BTC if it breaks above and remains at $5,500
If BTC succeeds to break out the $5,500 resistance, its price may surges to $6,000 – $6,250 area. Most likely there will be a pullback from there.
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- High liquidity. All orders will be executed immediately with low latency.
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