Bitcoin

April

<p>“`</p>
<p><strong>After several weeks of a proper correction, the main cryptocurrency now seems to be leaving behind this bearish interlude. According to the latest projections from analysts, this fresh wind could well propel Bitcoin to the record highs of $73,000 by the end of May. A prospect that instantly reignites euphoria among bitcoin investors.</strong></p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<h2 id="h-une-correction-salutaire-et-desormais-integree">A Beneficial Correction Now Fully Integrated</h2>
<p>To fully comprehend the significance of this already initiated bullish cycle, it is necessary to look back a few weeks. Between March and April 2024, Bitcoin indeed went through <a href="https://www.cointribune.com/en/bitcoin-is-dropping-drastically-how-far-will-it-go/" target="_blank" rel="noopener noreferrer nofollow">a patch of turbulence</a> with a correction of nearly 22%. During this period, prices fell sharply, dropping from the year’s peak of $72,756 to a low of $56,500.</p>
<p>Far from being trivial, this downward movement was analyzed as an essential breathing space after the spirited bullish surges of the previous months. Inevitable and even beneficial, according to many experts, this consolidation of bitcoin was seen as an opportunity to reassure investors and to shed some of the speculative fever before moving forward.</p>
<div class="affiliate-button"><span class="affiliate-button__link obfuscated-link" data-href="https://www.cointribune.com/newsletters/" data-target="_blank" data-rel="noreferrer noopener">Discover our newsletter</span> <span class="affiliate-button__disclaimer obfuscated-link" data-href="https://www.cointribune.com/en/sponsored-content/" data-target="_blank" data-rel="noreferrer noopener">This link uses an affiliate program.</span>
</div>
<h2 id="h-un-signal-de-reprise-du-bitcoin">A Signal of Bitcoin’s Revival</h2>
<p>This breathing spell now seems to be completely integrated if the recent signals are anything to go by. According to technical analysis experts, all the indicators have indeed turned green again to allow a strong recovery of the bullish trajectory. The first triggering element, Bitcoin has firmly reestablished itself above the 50% retracement level, a major resistance zone.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="447" src="https://www.cointribune.com/app/uploads/2024/05/IMG_4343-1024x447.png" alt="After weeks of consolidation, Bitcoin seems to be gearing up for a new bullish rally towards $73,000 this May" class="wp-image-690237" srcset="https://www.cointribune.com/app/uploads/2024/05/IMG_4343-1024x447.png 1024w, https://www.cointribune.com/app/uploads/2024/05/IMG_4343-300x131.png 300w, https://www.cointribune.com/app/uploads/2024/05/IMG_4343-768x335.png 768w, https://www.cointribune.com/app/uploads/2024/05/IMG_4343-1536x670.png 1536w, https://www.cointribune.com/app/uploads/2024/05/IMG_4343.png 1815w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Bitcoin Correction! $73,000 in May?</em>
  </figcaption>
 </figure>
</div>
<p>Even better, the trend further strengthened with the surpassing of the bearish channel in which BTC had been moving for a month. A typical configuration of a “bullish continuation pattern” after a brief pause in the fundamental movement. Analysts also rely on the crossing of key moving averages at 20 and 50 days, an additional factor for acceleration.</p>
<p>An impressive new demonstration of the stratospheric strength of Bitcoin. In this context, it’s difficult not to get swept away by a wind of unfettered optimism. Bullish targets are already multiplying, with intermediary goals set at $67,450 and then $73,380 for the most daring! A projection that could <a href="https://www.cointribune.com/en/bitcoin-ready-to-take-off-arthur-hayess-wild-prediction/" target="_blank" rel="noopener noreferrer nofollow">materialize</a> as early as May.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://accounts.binance.com/en/register?ref=35547494" target="_blank" rel="noopener noreferrer nofollow">Buy cryptos with Binance</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<p>“`</p>

Bitcoin at $73,000 in May? The end of the correction, the rally begins!

Table of Contents

Cointribune EN

Other articles published on May 6, 2024

Bitcoin Hits 1 Billion Transactions: What’s Next for Scalability?

BTCC Exchange Launches World Trading Competition with Record-breaking 10M USDT in Prize Pools

Analysts Foresee Altcoins ‘Explosive Rally’ Incoming, Is The Correction Phase Over?

New Cryptocurrency Releases, Listings, & Presales Today – RabbitPad, Love Power Coin, STYLE Proto...

FTX’s Pre-Deadline $8.3 Million Crypto Transfers Raise Eyebrows: Here’s the Truth

RBI Plans Offline Access for Digital Money, says Governor Das

Join our free newsletter for daily crypto updates!