Bitcoin Price Forecast: BTC / USD Dropped Suddenly 4.54%

Bitcoin Price Prediction – May 28 Bitcoin price drops from $ 38,556 to $ 35,127 an hour, but the coin is currently managing to recover. BTC / USD Long Term Trend: Bearish (Daily Chart) Key Levels: Resistance Levels: $ 45,000, $ 50,000, $ 55,000 Support Levels: $ 30,000, $ 25,000, $ 20,000 BTCUSD – At the time of writing the Daily Chart, BTC / USD is at $ 36,808 It is traded marginally at the current price of 1. This is around the price it has traded in the last days. However, Bitcoin's price drops below $ 38,000 and rejections at $ 38,900 are not positive for the bull. The bulls tried and failed to accumulate enough buying pressure to break the $ 40,000 several times, but each attempt failed at the same time. Bitcoin Price Prediction: What's Next For Bitcoin? Bitcoin price is currently trading at $ 36,808 below the 9-day and 21-day moving averages, following the bears' attempt to lower the price to $ 35,000. The move occurred less than an hour after Bitcoin's falling below the 9-day MA at $ 36,000, a key support level on the daily chart, but the bulls managed to bounce back from $ 35,127 to $ 36,808 where it is now. . It is important to note that Bitcoin's inability to post sustained closures above the $ 40,000 zone indicates that it is currently plagued by an underlying weakness. This consolidation phase has resulted in numerous bearish divergences that could cause the cryptocurrency to see a significant return in the coming days. In addition, the coin's potential resistance levels are 45,000 USD, 50,000 USD and 55,000 USD, and critical supports are 30,000 USD, 25,000 USD and 20,000 USD as the Relative Strength Index (14) falls into the oversold zone, indicating more bearish signals. BTC / USD Mid-term trend: Bear (4H chart) BTCUSD – 4-hour chart on 4-hour chart, instant support below 9-day and 21-day moving averages.

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    CMC Markets 0.7pips. (variable) margin: 3.33%
    IG 0.6pips (fixed) margin: 3.33%
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