Bitcoin Price Prediction for Today, May 20: BTC Fails to Push Higher as Price Moves Away from $30,000 ByAzeez MustaphaPRO INVESTOR Updated: 20 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. At the time of writing, the Bitcoin price prediction is dropping over 1.60% within 24 hours as it trades at the $38,773 level. Bitcoin Prediction Statistics Data: Bitcoin price now – $30,027 Bitcoin market cap – $572.3 billion Bitcoin circulating supply – 19.0 million Bitcoin total supply – 19.0 million Bitcoin Coinmarketcap ranking – #1 BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $36,000, $38,000, $40,000 Support Levels: $25,000, $23,000, $21,000 BTCUSD – Daily Chart Buy Bitcoin Now The daily chart reveals that BTC/USD failed to break above the previous resistance level of $31,000. Moreover, the Bitcoin (BTC) begins the day off by trending lower towards the support level of $30,000 and probably crossing below the 9-day and 21-day moving averages. However, the first support level is $28,000. Beneath this, other supports lie at $25,000, $23,000, and $21,000. Bitcoin Price Prediction: Bitcoin (BTC) May Consolidate to the Downside Today’s trading marks another day that the Bitcoin price fails to stay above the 9-day moving average as it looks to set up another few days of negative price declines beneath $30,000. Meanwhile, a break above the opening price of $30,274 would have set the king coin up to reach the nearest resistance at the $32,000 level. In other words, traders can see Bitcoin fails to break up as the technical indicator Relative Strength Index (14) may remain below 40-level. However, the Bitcoin price couldn’t go higher as it is dropping towards the lower boundary of the channel. More so, should the technical indicator slide to the downside, the market price may end on the negative side, but on the contrary, crossing above the 21-day moving average could meet the resistance levels at $36,000, $38,000, and $40,000. BTC/USD Medium-Term Trend: Ranging (4H Chart) The 4-hour chart reveals that bulls are likely to come back into the market if the coin moves to cross above the upper boundary of the channel. Therefore, if the bulls put more pressure, the Bitcoin price may hit the resistance level of $33,000 and above. BTCUSD – 4 Hour Chart Nevertheless, if the sellers bring the current market value below the 9-day and 21-day moving averages, breaking this barrier may further allow the coin to hit the support at $27,500 and below. At the moment, the technical indicator Relative Strength Index (14) may likely cross below the 50-level to give additional bearish signals to the market. 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
