Bitcoin Price Weekly Update: 3rd May – 9th May 2021

It is all joy this week for bitcoin holders and traders. The crypto giant seems to be making a great shift this week.
Last week we expected bitcoin price to drop to $48000 and even lower, yet we expected that this might not last for too long not knowing it wouldn’t even smile at $48,000.
A great shift is on now as bitcoin price hits $59,000 and should extend to our all-time high, $64,000 this week.
At level $56,236, there was a resistance that was broken and converted to support and this gave bitcoin a bounce assisted by the MACD moving average cross to the buy zone.

Looking at the technical indicators:
    • Major Support Level – $$56,236
    • Major Resistance Level – $59,505

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for USD/BTC:for Naira/BTC: If you have any questions, leave them in the comment section below. Disclaimer: This article is in no way a financial advisor for your trading. Any action taken in this regard is done at your own risk. Nigerian Bitcoin Community is not liable for any loss or gain as a result of the application of this content. We advise you to do your own research.

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