Bitcoin price prediction: BTC / USD struggles to reach $ 60,000 resistance value

Bitcoin Price Predictions – May 3 The rate at which the BTC / USD market is moving is lower than other cryptocurrencies that come with the US fiat currency. 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 Daily BTC / USD trading chart still shows the $ 60,000 resistance point cryptocurrency It is a usual obstacle that has not yet broken north since the high-low candlesticks emerge below since it returned to the recovery movement. The 14-day SMA trend line points briefly north as the 50-day SMA indicator is at $ 50,000, slightly above the $ 55,000 support line. Stochastic Oscillators try to cover the hair in the overbought area. And this could indicate the probability of a situation where consolidation continues later on. Will the $ 60,000 level be harder for BTC / USD bulls now? The long-awaited baseline for the improvement move has already fixed around $ 50,000 in this market. But $ 60,000 has once again become the main resistance line that the BTC / USD bulls now desperately need to make a strong all-out breakout. A minor reversal after the so-called breakout is not so good that it can lead to a difficult trading environment for a smooth period of appreciation in the crypto market. When analyzing the devaluation situation of this market, the bears may have to wait a long time to see if the momentum required to break the key resistance area of $ 60,000 will eventually weaken, which could lead to a sharp price correction before considering taking a position. . start. In addition, traders must protect their sales entries with active price action combined with the principle of good money management. The 4-hour BTC / USD chart However, the medium-term 4-hour trading chart shows that BTC is struggling to push.

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