Bitcoin Price Prediction for Today, May 10: BTC May Retrace Above $32,000 ByAzeez MustaphaPRO INVESTOR Updated: 10 May 2022 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Join Our Telegram channel to stay up to date on breaking news coverage The Bitcoin price prediction rebounds from the early dip at $29,735 as the buying interest may increase approach to $35,000. BTC/USD Long-term Trend: Ranging (Daily Chart) Key levels: Resistance Levels: $37,000, $39,000, $41,000 Support Levels: $25,000, $23,000, $21,000 BTCUSD – Daily Chart Buy Bitcoin Now BTC/USD is trading below the 9-day and 21-day moving averages as the market establishes a slight rise above $32,000 but currently rebounding to retest previous resistance at $34,000. The bulls may continue to find some resistance levels around the 9-day and 21-day moving averages on the road to recovery and the path of least resistance appears to the upside in the near term amid a favorable bullish technical setup. Bitcoin Price Prediction: BTC Price Could Spike Higher In the past few hours, after the Bitcoin price touches the daily low of $29,735, the king coin is facing the resistance level of $32,000 and looking forward to reclaiming the resistance level of $35,000. However, the daily chart reveals that if the 9-day moving average crosses above the 21-day moving average, this will confirm the next direction that the coin will follow. In other words, BTC/USD may decline if the Bitcoin price breaks below the lower boundary of the channel. Meanwhile, the technical indicator Relative Strength Index (14) is moving away from the oversold region, indicating a bullish movement. Therefore, if the Bitcoin price crosses above the 9-day and 21-day MAs, it could hit the resistance levels of $37,000, $39,000, and $41,000 but any movement below the channel could hit the supports at $25,000, $23,000, and $21,000. BTC/USD Medium-Term Trend: Bearish (4H Chart) According to the 4-hour chart, the Bitcoin price is seen rebounding as the technical indicator Relative Strength Index moves to cross above the 30-level. On the upside, if the Bitcoin price stays above the 9-day moving average in the short term, bullish influence could spike and the accrued gains massively. BTCUSD – 4 Hour Chart However, the current candle may target the support level at $27,500 and below but the best the bulls can do is to hold above the resistance level of $32,000 and keep their attention on breaking the potential resistance at $35,000 and above. Looking to buy or trade Bitcoin (BTC) now? Invest at eToro! Buy Bitcoin Now 68% of retail investor accounts lose money when trading CFDs with this provider Read more: How to buy Bitcoin How to buy Cryptocurrency Join Our Telegram channel to stay up to date on breaking news coverage