Bitcoin (BTC) Price Prediction – May 11, 2021
Since April 14, Bitcoin bulls have failed to sustain above the $60,000 overhead resistance. BTC/USD has been in a downward correction between $48,000 and $60,000. If buyers have broken the $60,000 psychological price level, Bitcoin would have resumed the second leg of an uptrend that would have seen BTC price reached the high of $70,000.
Resistance Levels: $65,000, $70,000, $75,000
Support Levels: $50,000, $45,000, $40,000
Today, Bitcoin is in a downward move since May 10 after its rejection from the high of $59,589. The king coin has fallen to the low of $55,102 at the time of writing. The crypto has lost the $58,000 crucial support level. This support level is where the market tends to resume upside momentum. In the previous price action on May 8, buyers reclaimed the $58,000 support level. The bulls retested the $60,000 … Read more