As the Crypto Markets Enter a Slumber, Bitcoin May be Gearing up For a Surge Back To 5,400


Despite witnessing some exciting price action over the past several weeks, the crypto markets are currently taking a slight breather as Bitcoin tepidly advances into the $5,200 region.Although the recent upwards momentum appears to have fizzled out, analysts are now expecting Bitcoin to make another upwards push back up towards its strong resistance level around $5,400 – which could open the gates for significantly further gains, assuming that BTC is able to break above this level.Bitcoin Finds Stability Above $5,200 As Crypto Markets Climb Slightly At the time of writing, Bitcoin is trading up 2.4% at its current price of $5,230 and is up slightly from its weekly lows of roughly $4,950. The recent price climb appears to be part of a larger consolidation pattern, as BTC has now been stuck between roughly $5,000 and $5,400 since early-April.$5,400 was first established as a level of resistance one-week ago when Bitcoin surged to this price level before incurring a significant amount of selling pressure that sent it spiraling downwards to approximately $5,000 – a price level at which it found support.Since then, BTC and the entire crypto markets have climbed slightly, but they have failed to gain any significant levels of upwards