Bitcoin traders project six-figure prices
Analysts Predict Bitcoin Recovery Above $100,000 Now that BTC Reclaimed $61,000 Level
Bitcoin recovers from two-month lows below $57,000 with a 5.2% jump in the last 24 hours.
Data from Cointelegraph Markets Pro and TradingView reveals that the price of Bitcoin (BTC) rose from lows of $56,551 on May 1, rising 9.85% to an intraday high of $62,123 on May 3.
What levels should traders and analysts watch for BTC on the upside as the recovery across the cryptocurrency market continues?
Key Bitcoin price resistance remains at $64,000
In a repeat of the move that followed its drop below $60,000 ahead of the April 20 halving event, Bitcoin is quickly heading towards the $62,000 area.
This is the hotspot on traders' radars and one that has not received a convincing re-test.
Independent trader Eliz saw Bitcoin hovering around $61,783, saying that even with BTC recovering from levels below $60,000, "the hurdle to overcome remains the same."
The trader explained that $62,000 was the key level on the daily BTC chart.
