Search Inside Bitcoins

Bitcoin Price Prediction for Today, May 13: BTC Price Battles with $30,000

Bitcoin Price Prediction
Bitcoin Price Prediction

Join Our Telegram channel to stay up to date on breaking news coverage

The Bitcoin price prediction is likely to spread the bearish move below $29,000 after numerous attempts to hold gains above $30,000.

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key levels:

Resistance Levels: $37,000, $39,000, $41,000

Support Levels: $23,000, $21,000, $19,000

Bitcoin Price Prediction
BTCUSD – Daily Chart

BTC/USD falls below $30,000 as the largest cryptocurrency failed to hold above $30,000 following a significant breakout during the European session today. However, the bearish control has been seen across the market, with other major digital assets seeing similar losses when trading below the 9-day and 21-day moving averages.

Bitcoin Price Prediction: Can BTC Price Go Lower?

The Bitcoin price is trading at $29,927 with an intraday gain of 3.14% as the king coin is likely to follow the bearish movement. BTC/USD is currently consolidating within the channel and a breakout of this pattern in the direction of the previous trend is expected to continue. In the meantime, BTC/USD is expected to fall and stay below the 9-day and 21-day moving averages which could move towards the critical support levels at $23,000, $21,000, and $19,000.

Nevertheless, if the Bitcoin price crosses above the 9-day moving average; the price could rise to the vital resistance of $35,000 while a further bullish drive could take the coin to the resistance levels of $37,000, $39,000, and $41,000 respectively. Moreover, the technical indicator Relative Strength Index (14) is currently moving away from the oversold region, which shows that a possible bullish movement may play out within the market.

BTC/USD Medium-Term Trend: Bearish (4H Chart)

As the market opens today, the Bitcoin price touches the daily low of $29,662, but now hovering around $29,970. Should the price drop further below the 9-day and 21-day moving averages, it could hit the next level of support at $27,000 and below.

BTCUSD – 4 Hour Chart

However, if the bulls push the coin above the upper boundary of the channel, the Bitcoin price could hit the potential resistance level of $34,000 and above. For now, the market may continue to experience a downtrend as the technical indicator Relative Strength Index (14) moves below 50-level.

Looking to buy or trade Bitcoin (BTC) now? Invest at eToro!

68% of retail investor accounts lose money when trading CFDs with this provider

Read more:

Join Our Telegram channel to stay up to date on breaking news coverage

Read next

X

Can This New Token Presale 100x?

Can This New Token Presale 100x?

Can This New Token Presale 100x?

X