Bitcoin Price Forecast 

Bitcoin from a Fundamental Perspective

Bitcoin’s price rose slightly during Thursday’s trading but remained below $80,000 after falling to a one-week low during the previous session. 

Higher-than-expected U.S. inflation data for April reduced the likelihood of an interest rate cut by the Federal Reserve, which negatively impacted risk appetite and supported the dollar.

Bitcoin from a Technical Perspective

Bitcoin managed to break through the uptrend levels on the four-hour chart, and with today’s upward correction, the currency has retested this broken uptrend near the $80,000 level.

Additionally, the $80,300 to $81,000 levels are considered good areas to sell the coin, and we are targeting the $78,000 and then $86,000 levels.

This scenario fails if the $83,000 level is broken to the upside.