BTC Price Analysis for May 26: Bearish Forecast
Despite the efforts of bulls to push bitcoin to $40,000, on May 25, the cryptocurrency was traded in the range of 39,769 36,613 dollars. Another round of sales took place in a day
Resistance at the level of 40,000 dollars makes the bitcoin market bearish. It is possible to decrease within 24 hours with the establishment of a new minimum. This is indicated by technical indicators, reduced trading volume and high volatility.
4-hour BTC/USD chart
In the medium to long term, the price of bitcoin is falling. The cryptocurrency is supported by the level of 32 thousand dollars. However, as we have already said, within 24 hours it can be broken.
If the bears are stronger than the bulls, the price of cryptocurrency can fall to 30,000 at the end of the week. At the same time, 30,208 will support the cryptocurrency. In the event of a breakout of this level, the prospect of a reduction to 25 thousand dollars will open.
If the bulls make a leap and can break above 40,000 dollars, the resistance to the cryptocurrency will be such levels: 40 500, 42 000, 43570, 46 200, 47 500 and 50,000 dollars.
The current price of cryptocurrency can be found on the Binance exchange. It is the world's largest crypto exchange with profitable trading offers and low commissions.
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