Ever since the drop of Bitcoin back to $5000 on Thursday, bulls and bears are playing tug of war around the current levels. Most traders are now looking at the crucial resistance at $4800.

Bitcoin reached its most recent high of $5400 before dropping back to $5000 on Thursday, with most altcoins being hit even harder in this drop. Still, BTC has been up over $800 since the start of the pump at the beginning of April, and despite the red figures in the market the last few days, traders remain bullish.
However, a further decline in the short term is predicted by most of them. The majority of the popular Crypto Twitter traders are aiming for $4800, or even $4600 for now, and are positioning themselves to buy into Bitcoin or alts around those levels.
However, a further decline in the short term is predicted by most of them. The majority of the popular Crypto Twitter traders are aiming for $4800, or even $4600 for now, and are positioning themselves to buy into Bitcoin or alts around those levels.
As @TheCryptoDog points out, even if Bitcoin drops further, things are still looking very bright in the market.
Tyler Jenks, founder of Lucid Investment, predicted on Thursday that Bitcoin will indeed drop another $1000, back to the pre-pump levels of $4200. He even states that his target, Bitcoin back to $1000, is still in play.