Bitcoin Price Forecast: BTC / USD Now Registering Small Corrective Move Up To $ 55,000 Support

Bitcoin Price Predictions – May 4 Since the beginning of this month, a slight price correction has occurred in the BTC / USD valuation as the value of the cryptocurrency has an average resistance level of $ 60,000. The price is currently trading with a less active correction move towards the $ 55,000 support. Key BTC / USD Market Levels: Resistance Levels: $ 60,000, $ 65,000, $ 70,000, Support Levels: $ 50,000, $ 45,000, $ 40,000 BTC / USD – Daily Chart A bullish candlestick appeared and fell on April 30. 55,000 USD has passed the Northern level. And again, crop tops are formed by a less active move against the soaring candlestick buying wall. The smaller SMA is on the verge of collapse. The 50-day SMA indicator is below the 14-day SMA trend line. The support base is still held at $ 50,000. Stochastic Oscillators are trying to cross south in the overbought zone. This suggests some liquidation in BTC / USD market transactions. Will the current pace of BTC / USD prices rise to a full retracement cycle? The two main trading levels of $ 60,000 and $ 55,000 will play an important role in determining the precise market trend in a more volatile trading situation. However, the ability of the BTC / USD bulls does not seem strong enough at the time of writing to take advantage of recent recovery efforts that found support between the $ 50,000 and $ 45,000 levels. The bulls need to be stronger against the $ 55,000 breakdown to avoid reverting to some previous lows. When it comes to seeing a downward move in this market, the trajectory that could lead to a downward trend seems to be increasing for the time being. Meanwhile, the bears should simply support their entry with active price action against an upward move. But at this point, starting the sell position may not technically be good because the price seems to be taking a break right now. The 4-hour BTC / USD chart is also displayed on support

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