{"id":261432,"date":"2020-05-23T03:57:12","date_gmt":"2020-05-23T07:57:12","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=261432"},"modified":"2021-08-23T18:54:56","modified_gmt":"2021-08-23T22:54:56","slug":"bitcoin-price-prediction-bitcoin-holds-above-9000-after-a-surprise-breakdown","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-bitcoin-holds-above-9000-after-a-surprise-breakdown","title":{"rendered":"Bitcoin Price Prediction: Bitcoin Holds above $9,000 after a Surprise Breakdown"},"content":{"rendered":"\r\n

Bitcoin (BTC) Price Prediction \u2013 May 23, 2020<\/strong>
Since on May 7, buyers have made a consistent struggle to break the resistance at $10,000. The bulls have made several attempts to break the resistance but to no avail. These repeated failures have caused a bearish reaction to Bitcoin. BTC\/USD<\/a> pair slumped to a low of $8,800 on May 21.

Key Levels:<\/strong>
Resistance Levels: $10,000, $11, 000, $12,000
Support Levels: $7,000, $6,000, $5,000<\/p>\r\n

\"\"<\/a>
BTC\/USD – Daily Chart<\/figcaption><\/figure>\r\n

Bitcoin has been trading in the upside range between $9,000 and $10,000 since May 14. During this period the bulls made concerted efforts to breach the $10,000 resistance level. The several attempts proved abortive. Each attempt is accompanied by an equivalent selling pressure. On May 20, the selling pressure extended to the following day as price reached a low of $8,815. Nonetheless, the support at $8,800 was held as bulls made correction upward. The selling pressure would have continued if the $8,800 support failed to hold.<\/p>\r\n


As the bulls recovered, the upside range is likely to continue. Bitcoin has entered the upside range between $9,000 and $10,000. A possible retest of the overhead resistance is likely. On the downside, if the selling pressure has continued below $8,800, the market will drop to $8,200. Subsequently, BTC can fall to the $8,000 low. A break below $8,000 will signal the resumption of the downtrend. Nevertheless, BTC is below the 60 % range of the daily stochastic. This indicates a bearish momentum. However, this is contrary to price action which is indicating a bullish signal.

BTC\/USD Medium-term Trend: Bullish (4-Hour Chart)<\/strong><\/p>\r\n

\"\"<\/a>
BTC\/USD – 4 Hour Chart<\/figcaption><\/figure>\r\n

On the 4 hour chart, Bitcoin has been trading below $9,800 resistance. After May 7, the testing of the $10,000 resistance has been resisted below $9,800. Yesterday, as the market fell to $8,800 low, the bulls pulled back above $9,200 high. At the moment, Bitcoin is facing resistance at $9,300. However, if the upside price range fails to hold, the selling pressure is likely to resume. Meanwhile, BTC has fallen to level 44 of the Relative Strength Index period 14. It indicates that it is in the downtrend zone and below the centerline 50.<\/p>\r\n

\u00a0<\/span>Please note:<\/strong> Insidebitcoins.com<\/i><\/a> is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.<\/em><\/p>\r\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 May 23, 2020Since on May 7, buyers have made a consistent struggle to break the resistance at $10,000. The bulls […]<\/a><\/div>","protected":false},"author":1742,"featured_media":261660,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[734,5319,7812,8009],"class_list":["post-261432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-bitcoin","tag-btc","tag-btc-usd","tag-price-prediction"],"acf":[],"yoast_head":"\nBitcoin Price Prediction: Bitcoin Holds above $9,000 after a Surprise Breakdown - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"Buyers have made a consistent struggle to break the resistance at $10,000. The bulls have made several attempts to break the resistance.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Prediction: Bitcoin Holds above $9,000 after a Surprise Breakdown\" \/>\n<meta property=\"og:description\" content=\"Buyers have made a consistent struggle to break the resistance at $10,000. The bulls have made several attempts to break the resistance.\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-23T07:57:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-23T22:54:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/05\/BTC-Insidebitcoin-12.png\" \/>\n\t<meta property=\"og:image:width\" content=\"970\" \/>\n\t<meta property=\"og:image:height\" content=\"571\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Azeez Mustapha\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ItuGlobal\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Azeez Mustapha\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432\"},\"author\":{\"name\":\"Azeez Mustapha\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/0e3e45af228d02da2a4f4ff4b82454b8\"},\"headline\":\"Bitcoin Price Prediction: Bitcoin Holds above $9,000 after a Surprise Breakdown\",\"datePublished\":\"2020-05-23T07:57:12+00:00\",\"dateModified\":\"2021-08-23T22:54:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432\"},\"wordCount\":382,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/05\/BTC-Insidebitcoin-12.png\",\"keywords\":[\"Bitcoin\",\"btc\",\"BTC\/USD\",\"Price Prediction\"],\"articleSection\":[\"More Crypto News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432\",\"name\":\"Bitcoin Price Prediction: Bitcoin Holds above $9,000 after a Surprise Breakdown - InsideBitcoins.com\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432#primaryimage\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/05\/BTC-Insidebitcoin-12.png\",\"datePublished\":\"2020-05-23T07:57:12+00:00\",\"dateModified\":\"2021-08-23T22:54:56+00:00\",\"description\":\"Buyers have made a consistent struggle to break the resistance at $10,000. The bulls have made several attempts to break the resistance.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432#primaryimage\",\"url\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/05\/BTC-Insidebitcoin-12.png\",\"contentUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/05\/BTC-Insidebitcoin-12.png\",\"width\":970,\"height\":571},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/insidebitcoins.com\/#website\",\"url\":\"https:\/\/insidebitcoins.com\/\",\"name\":\"InsideBitcoins.com\",\"description\":\"Search & Compare Brokers within Crypto, Forex & Stocks\",\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/insidebitcoins.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/insidebitcoins.com\/#organization\",\"name\":\"InsideBitcoins\",\"url\":\"https:\/\/insidebitcoins.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg\",\"contentUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg\",\"width\":195,\"height\":32,\"caption\":\"InsideBitcoins\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/0e3e45af228d02da2a4f4ff4b82454b8\",\"name\":\"Azeez Mustapha\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/368a1c3ea65da09a1128621f280ad865?s=96&d=mm&r=pg\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/368a1c3ea65da09a1128621f280ad865?s=96&d=mm&r=pg\",\"caption\":\"Azeez Mustapha\"},\"description\":\"Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management. Azeez provides daily articles covering the price movements of major cryptocurrencies, and has contributed to a range of respected publications and trading magazines. Find his other published work on Learn2.trade, and CryptoSignals.org.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/azeez-mustapha-0825565b\/\",\"https:\/\/x.com\/ItuGlobal\"],\"gender\":\"male\",\"knowsAbout\":[\"Stock Exchange\",\"Cryptocurrency Trading\",\"Forex\"],\"jobTitle\":\"Author\",\"url\":\"https:\/\/insidebitcoins.com\/author\/azeezmustaph\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Bitcoin Price Prediction: Bitcoin Holds above $9,000 after a Surprise Breakdown - InsideBitcoins.com","description":"Buyers have made a consistent struggle to break the resistance at $10,000. The bulls have made several attempts to break the resistance.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Price Prediction: Bitcoin Holds above $9,000 after a Surprise Breakdown","og_description":"Buyers have made a consistent struggle to break the resistance at $10,000. The bulls have made several attempts to break the resistance.","og_site_name":"InsideBitcoins.com","article_published_time":"2020-05-23T07:57:12+00:00","article_modified_time":"2021-08-23T22:54:56+00:00","og_image":[{"width":970,"height":571,"url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/05\/BTC-Insidebitcoin-12.png","type":"image\/png"}],"author":"Azeez Mustapha","twitter_card":"summary_large_image","twitter_creator":"@ItuGlobal","twitter_misc":{"Written by":"Azeez Mustapha","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432#article","isPartOf":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432"},"author":{"name":"Azeez Mustapha","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/0e3e45af228d02da2a4f4ff4b82454b8"},"headline":"Bitcoin Price Prediction: Bitcoin Holds above $9,000 after a Surprise Breakdown","datePublished":"2020-05-23T07:57:12+00:00","dateModified":"2021-08-23T22:54:56+00:00","mainEntityOfPage":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432"},"wordCount":382,"commentCount":0,"publisher":{"@id":"https:\/\/insidebitcoins.com\/#organization"},"image":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432#primaryimage"},"thumbnailUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/05\/BTC-Insidebitcoin-12.png","keywords":["Bitcoin","btc","BTC\/USD","Price Prediction"],"articleSection":["More Crypto News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432#respond"]}],"copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/insidebitcoins.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432","url":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432","name":"Bitcoin Price Prediction: Bitcoin Holds above $9,000 after a Surprise Breakdown - InsideBitcoins.com","isPartOf":{"@id":"https:\/\/insidebitcoins.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432#primaryimage"},"image":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432#primaryimage"},"thumbnailUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/05\/BTC-Insidebitcoin-12.png","datePublished":"2020-05-23T07:57:12+00:00","dateModified":"2021-08-23T22:54:56+00:00","description":"Buyers have made a consistent struggle to break the resistance at $10,000. The bulls have made several attempts to break the resistance.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432#primaryimage","url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/05\/BTC-Insidebitcoin-12.png","contentUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/05\/BTC-Insidebitcoin-12.png","width":970,"height":571},{"@type":"WebSite","@id":"https:\/\/insidebitcoins.com\/#website","url":"https:\/\/insidebitcoins.com\/","name":"InsideBitcoins.com","description":"Search & Compare Brokers within Crypto, Forex & Stocks","publisher":{"@id":"https:\/\/insidebitcoins.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/insidebitcoins.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/insidebitcoins.com\/#organization","name":"InsideBitcoins","url":"https:\/\/insidebitcoins.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/","url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg","contentUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg","width":195,"height":32,"caption":"InsideBitcoins"},"image":{"@id":"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/0e3e45af228d02da2a4f4ff4b82454b8","name":"Azeez Mustapha","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/368a1c3ea65da09a1128621f280ad865?s=96&d=mm&r=pg","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/368a1c3ea65da09a1128621f280ad865?s=96&d=mm&r=pg","caption":"Azeez Mustapha"},"description":"Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management. Azeez provides daily articles covering the price movements of major cryptocurrencies, and has contributed to a range of respected publications and trading magazines. Find his other published work on Learn2.trade, and CryptoSignals.org.","sameAs":["https:\/\/www.linkedin.com\/in\/azeez-mustapha-0825565b\/","https:\/\/x.com\/ItuGlobal"],"gender":"male","knowsAbout":["Stock Exchange","Cryptocurrency Trading","Forex"],"jobTitle":"Author","url":"https:\/\/insidebitcoins.com\/author\/azeezmustaph"}]}},"_links":{"self":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432"}],"collection":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/users\/1742"}],"replies":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/comments?post=261432"}],"version-history":[{"count":0,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/261432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/media\/261660"}],"wp:attachment":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/media?parent=261432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/categories?post=261432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/tags?post=261432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}