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Bitcoin Price Prediction for Today, May 20: BTC Fails to Push Higher as Price Moves Away from $30,000

At the time of writing, the Bitcoin worth prediction is dropping over 1.60% inside 24 hours as it trades on the $38,773 stage.

Bitcoin Prediction Statistics Data:

Bitcoin worth now – $30,027

Bitcoin market cap – $572.3 billion

Bitcoin circulating provide – 19.0 million

Bitcoin whole provide – 19.0 million

Bitcoin Coinmarketcap rating – #1

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key ranges:

Resistance Levels: $36,000, $38,000, $40,000

Support Levels: $25,000, $23,000, $21,000

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Bitcoin Price Prediction
BTCUSD – Daily Chart

The every day chart reveals that BTC/USD failed to break above the earlier resistance stage of $31,000. Moreover, the Bitcoin (BTC) begins the break day by trending decrease in direction of the help stage of $30,000 and doubtless crossing beneath the 9-day and 21-day shifting averages. However, the primary help stage is $28,000. Beneath this, different helps lie at $25,000, $23,000, and $21,000.

Bitcoin Price Prediction: Bitcoin (BTC) May Consolidate to the Downside

Today’s buying and selling marks one other day that the Bitcoin worth fails to keep above the 9-day shifting common as it seems to arrange one other few days of detrimental worth declines beneath $30,000. Meanwhile, a break above the opening worth of $30,274 would have set the king coin up to attain the closest resistance on the $32,000 stage. In different phrases, merchants can see Bitcoin fails to break up as the technical indicator Relative Strength Index (14) could stay beneath 40-level.

However, the Bitcoin worth couldn’t go increased as it is dropping in direction of the decrease boundary of the channel. More so, ought to the technical indicator slide to the draw back, the market worth could finish on the detrimental aspect, however quite the opposite, crossing above the 21-day shifting common might meet the resistance ranges at $36,000, $38,000, and $40,000.

BTC/USD Medium-Term Trend: Ranging (4H Chart)

The 4-hour chart reveals that bulls are probably to come again into the market if the coin strikes to cross above the higher boundary of the channel. Therefore, if the bulls put extra stress, the Bitcoin worth could hit the resistance stage of $33,000 and above.

BTCUSD – 4 Hour Chart

Nevertheless, if the sellers deliver the present market worth beneath the 9-day and 21-day shifting averages, breaking this barrier could additional permit the coin to hit the help at $27,500 and beneath. At the second, the technical indicator Relative Strength Index (14) could probably cross beneath the 50-level to give further bearish indicators to the market.

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