Bitcoin Price Prediction for Today, May 28: BTC Price Still Consolidating Around $29,000 ByAzeez MustaphaPRO INVESTOR Updated: 28 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. Join Our Telegram channel to stay up to date on breaking news coverage The Bitcoin price prediction continues sideways movement currently at $28,966 after another significant rejection from $29,239. Bitcoin Prediction Statistics Data: Bitcoin price now – $28,966 Bitcoin market cap – $552.4 billion Bitcoin circulating supply – 19.0 million Bitcoin total supply – 19.0 million Bitcoin Coinmarketcap ranking – #1 BTC/USD Long-term Trend: Ranging (Daily Chart) Key levels: Resistance Levels: $35,000, $37,000, $39,000 Support Levels: $23,000, $21,000, $19,000 Buy Bitcoin Now Looking at the daily chart, after a serious downtrend, BTC/USD is still flat, and trading sideways but has seen a volatile move, peaking at around $28,966 before quickly dropping to $28,500 below the 9-day and 21-day moving averages. Therefore, one can say that the Bitcoin (BTC) price is likely to continue with sideways movement before dropping below the channel. Bitcoin Price Prediction: What could be the Next Direction for Bitcoin? According to the daily chart, the Bitcoin price is trading at $28,966 with a slight gain of 1.29%. However, the prevailing trend is ranging from expanding volatility as the first digital asset continues to consolidate in a bearish flag pattern. Meanwhile, a breakdown from this pattern is supposed to continue in the direction of the previous trend. On the contrary, traders expect BTC/USD to rise above the 9-day and 21-day moving averages before moving towards the potential resistance levels at $35,000, $37,000, and $39,000. Furthermore, should the Bitcoin price break below the lower boundary of the channel; the price may head towards the $25,000 vital support. A further low drive could send the price to $23,000, $21,000, and $19,000 support. The technical indicator Relative Strength Index (14) is seen moving sideways below the 40-level, which makes the market to be indecisive at the moment. BTC/USD Medium-Term Trend: Ranging (4H Chart) On the 4-hour chart, we can see that the bulls are likely to step back into the market, trading within the 9-day and 21-day moving averages. Meanwhile, the $28,000 and below may be visited if BTC/USD breaks below the lower boundary of the channel. BTCUSD – 4 Hour Chart However, if the buyers can push the market to the north, traders may expect a break towards the upper boundary of the channel. Breaking the mentioned barrier may further allow the bulls to touch the resistance level of $30,000 and above, but the technical indicator Relative Strength Index (14) is moving below 50-level, indicating a sideways movement. eToro - Our Recommended Bitcoin Platform Our Rating Regulated by the FCA, ASIC and CySEC Buy Bitcoin with Bank transfer, Credit card, Neteller, Paypal, Skrill Free Demo Account, Social Trading Community - 20 Million Users Free Bitcoin Wallet - Unlosable Private Key Copytrade Winning Bitcoin Traders - 83.7% Average Yearly Profit Buy Bitcoin 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