Bitcoin (BTC/USD) Dumps Lower Averaging the Support of $35,000
Bitcoin Price Prediction – May 16
The market valuation of BTC/USD goes under a falling pressure after losing momentum near underneath the resistance trading zone of $60,000. The crypto’s price now trades around the value of $49,466 with about a 5.44% increase.
BTC/USD Market
Key Levels:
Resistance levels: $55,000, $60,000, $65,000,
Support levels: $35,000, $30,000, $25,000
After a series of variant candlesticks characterized by higher lows underneath the resistance level of $60, a long bearish eventually emerged on May 12th day’s session. And, that later on led the market direction downward to average the support line of $35,000 on May 15. A formation of a bullish candlestick is in the making presently to suggest the crypto’s possibility of recovery soon. The 14-day SMA trend-line has a...
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