Tom Lee still maintained that the $25,000 figure is still viable. Bitcoin is likely to break above the short-term resistance at $6,500 (50 SMA) while $6,600 is within reach. Bitcoin price trend is generally bullish at the moment owing to the fact that it opened the trading at $6531.96 followed by a downside movement that had BTC/USD trade marginally above $6,450. The price is currently changing at $6,491 as the weak bullish momentum tries to advance above $6,500. The short-term 100 SMA is going to be offering resistance slightly above $6,500 but the longer term 100 SMA will be a significant handle close to $6,550 approaching the key resistance at $6,600. The co-founder of Fundstrat who is also a respected Wall Street strategist, Tom Lee while on CNBC’s Squawk Box seemed to relent on his earlier prediction that Bitcoin (BTC) will reach $25,000 by the end of 2018. He was more inclined to introducing a fair figure while saying: “Bitcoin has historically traded at 2.5 times its mining costs. It’s not out of the question that it could be over $20,000 by the end of the year at fair value,” but Tom Lee still maintained that the $25,000 figure is still viable. Lee added, “”¦given where mining costs will be and applying the historical average of 2.5 times mining costs, that would imply fair value over $20,000, roughly $22,000.” Bitcoin is likely to break above the short-term resistance at $6,500 (50 SMA) while $6,600 is within reach in the intraday trading on Friday. The level at $6,700 is the currently immediate upper supply zone, besides if BTC/USD can find a support above this level; the buyers can find support to retrace towards $7,000 in the medium term. On the downside, the 61.8% Fibonacci retracement level with the last high leg of $6,781.69 and a low leg of $5,777 will stop downside explorations at $6,400. BTC/USD 1-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next GBP/USD hits fresh session tops, around mid-1.3200s FX Street 4 years Tom Lee still maintained that the $25,000 figure is still viable. Bitcoin is likely to break above the short-term resistance at $6,500 (50 SMA) while $6,600 is within reach. Bitcoin price trend is generally bullish at the moment owing to the fact that it opened the trading at $6531.96 followed by a downside movement that had BTC/USD trade marginally above $6,450. The price is currently changing at $6,491 as the weak bullish momentum tries to advance above $6,500. The short-term 100 SMA is going to be offering resistance slightly above $6,500 but the longer term 100 SMA will be a… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.