Bitcoin (BTC/USD) Market Sets to Resume Its Bullish Trend

Bitcoin Price Prediction – May 30

BTC/USD market is set to resume its bullish trend as the price enters a bullish order block. The resumption is, however, likely to begin after a short-term consolidation in the order block.
 
The BTCUSD pair has rebounded from a significant bullish order block situated near the psychological level of the $67000.00 price mark. This movement aligns with signals from the MA Cross, which indicates a distinctly bullish trend in the market. Additionally, the Stochastic Oscillator corroborates this sentiment by showing that the market is now approaching an oversold region.

BTC/USD Market Key Levels:

Resistance levels: $71980.00, $73836.00, $80000.00
Support levels: $50577.00, $43873.00, $38501.00

BTC/USD – Daily Chart

The BTC/USD daily chart shows that the market is set to resume its bullish trend.
 
The overall order flow of BTCUSD on the daily chart is bullish. The trading range of the market currently lies between the $50577.00 support and the $73836.00 resistance.
 
After the bounce off the 61.8% Fibonacci retracement level, BTCUSD resumed its bullish trend. However, a short-term crash ensued as the price hit a diagonal resistance at the premium.

What is the potential exit point for BTCUSD buyers?

Given the indication of the Stochastic Oscillator and the MA Cross, the impending upward trajectory is likely to persist until it encounters the resistance level at $73,836.00.

BTC/USD – Four-Hour Chart

On the four-hour chart, the market keeps declining alongside the diagonal resistance. A tap into the refined bullish order block, however, is expected to cause a massive surge, eventually invalidating the diagonal resistance.
 
Bitcoin (BTC) Current Statistics
The current price: $67734.30
Market Capitalization: $1,340,000,000,000
Trading Volume: $26,540,000,000

Place winning LEO trades with us. Get LEO here