Bitcoin has been trending lower since the opening of the session on Thursday. The entire market is in the red amid growing bearish pressure. The declines come after BTC/USD corrected to highs above $5,400 yesterday. The flash drop below $5,000 seems to have poked the bulls who have pulled the price above $5,040. Support at $5,000 will continue to hold in the coming sessions. However, the upside is still limited below the 50 SMA and the 100 SMA.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.