- Bitcoin has the potential to correct higher and reclaim the spot above $5,000.
- Bitcoin must defend the support at $4,750 to avoid declines that could test $4,000.
The sudden rise in Bitcoin price has seen a surge above $5,000 and precisely to highs around $5,089. The massive correction is said to be the beginning of recovery with BTC/USD expected to correct to $5,200 in the coming few days. Following the ballistic rise, the price retracted below $5,000 and found balance above $4,750.