Bitcoin Price Forecast (BTC): BTC / USD Consolidates Over $ 57,000 Support In Preparation For Upcoming Breakout

Bitcoin Price Prediction (BTC) – May 1, 2021 Bitcoin's price rose to $ 58,000, but was blocked. Today, Bitcoin falls below the $ 58,000 resistance. The price of BTC is currently hovering in a narrow range of $ 57,000 to $ 58,000. BTC / USD is trading at $ 57,608 at the time of writing. Resistance Levels: $ 65,000, $ 70,000, $ 75,000 Support Levels: $ 50,000, $ 45,000, $ 40,000 BTC / USD – Daily Chart Today, BTC / USD has reached the $ 58,000 resistance level and has been retested but rejected. The last test followed by consolidation below the $ 58,000 resistance points to further upward movement. In the lower timeframe, the price of BTC is now hovering in a narrow range of $ 57,000 to $ 58,000. Analysts believe that a consolidation near the resistance level increases the likelihood of a breakout. If the price is currently above $ 58,000, the market will rise to $ 62,000. Similarly, if the price drops below the $ 57,000 support, the $ 54,000 support is likely to decline. Meanwhile, the royal money that refused the final peak is back. On the daily chart, the market is pulling back to the 21-day and 50-day SMA support. Royal money will continue its upward movement if current support continues. Uzbek government agency proposes to legalize local cryptocurrency trading A major government agency in Uzbekistan seems to be reconsidering its position in allowing cryptocurrency trading in Uzbekistan. "The National Project Management Agency or NAFT under the Presidency of the Republic of Uzbekistan has issued an official document proposing various changes to the crypto trade licensing procedures," according to an official statement. The agency banned citizens from purchasing cryptocurrencies such as Bitcoin in 2019. Despite blocking crypto purchases, the authority will still allow locals to sell their crypto assets. Recent developments indicate a clear shift towards cryptocurrencies in NAFT. BTC / USD – 4-hour chart on 4-ho

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