Bitcoin (BTC) Price Prediction – March 6, 2021
On May 3, buyers pushed above the psychological price level as BTC/USD price rallied to $52,000 high. The bulls could not sustain the bullish momentum above the $52,000 high. There was a bearish reaction as Bitcoin dropped to $46,417.00 low.
Resistance Levels: $58,000, $59,000, $60,000
Support Levels: $40,000, $39,000, $38,000
Following the rejection from the $52,000 resistance, BTC price fell to $46,000 support and price corrected upward. The upward correction was terminated at $49,361 as the BTC price drops again to the support at $47,000. As Bitcoin faces rejection from the recent high, there is the likelihood of the bulls recouping to resume upward move. However, as the price continues its fluctuations, the current support at $46,000 can be broken by the bears. On the downside, Bitcoin is likely to decline to $41,000 low, if the current … Read more