Bitcoin (BTC) Analyst Predicts $80K Mid-Term Target: Key Support and Resistance Levels Revealed

• According to YouHodler risk manager Sergei Gorev, technical and fundamental analysis indicators are pointing towards a bullish trend in the cryptocurrency market for May.
• In a recent interview with The Block, Gorev evaluated the current state of the cryptocurrency market, noting an increase in short positions and a significant drop in funding rates.
• Gorev predicts a mid-term level of $80,000 for Bitcoin, but also warns investors to be cautious of a potential drop, as the 61.8% Fibonacci golden ratio level still points to $52,000 and the liquidity there has not yet been taken.

Technical and fundamental analysis indicators suggest a bullish trend in the cryptocurrency market for May, says YouHodler risk manager Sergei Gorev. However, investors are warned to stay cautious.

Indicators Point to Bullish Trend in Cryptocurrency Market

Sergei Gorev, YouHodler risk manager, recently shared his insights on the current state of the cryptocurrency market in an interview with The Block. He noted that technical and fundamental analysis indicators are pointing towards a bullish trend for the month of May. This comes as short positions in the futures market have seen an increase and funding rates have significantly dropped.

Bitcoin Predicted to Reach $80,000 Mid-Term

Within the interview, Gorev also shared his predictions for Bitcoin. He expects the cryptocurrency to reach... Read the full article for FREE at COINOTAG!