Bitcoin (BTC/USD) Price Ranges Between $27,000 and $30,000
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Bitcoin Price Prediction – May 3
The BTC/USD market ranges between $27,000 and $30,000 values. There is no stable movement in the crypto economy versus the US currency trade as the price maintains a minute negative level of the trading percentage rate of 0.29 between the high and low points of $28,866.50 and $28,428.91. The situation indicates that both market pushers are experiencing a recession and are making relatively few moves.
BTC/USD Market
Key Levels:
Resistance levels: $30,000, $31,000, $32,000
Support levels: $27,000, $26,000, $25,000
BTC/USD – Daily Chart
The BTC/USD daily chart reveals the crypto-economic price ranges between $27,000 and $30,000. Those two points have been marked by the upper and the lower horizontal lines, enclosing the smaller SMA trend line within them. The 50-day SMA indicator is at the $25,976.59 line underneath the $28,633.99 point of the 14-day SMA indicator. To confirm that a low-active trend is surfacing sideways, the Stochastic Oscillators momentarily crossed northbound from the oversold area to jam relatively easterly at about 44.34 and 45.01 levels.
Will the BTC/USD market continue to rise from its current price and eventually reach the upper range spot of $30,000?
Buyers in the BTC/USD market operations have to maintain their stances above the points of $26,000 against any other re-occurrence of volatility as the crypto-economic price ranges in the $27,000 and $30,000 overly. The positioning of the 50-day SMA gives a backing signal to create a more critical point than the lower horizontal line’s value. In light of that presumption, bulls are to be less proactive toward taking a buying order when the trade tends to relax beneath the upper range zone.
On the momentum-losing row of the BTC/USD technical analysis, a false upward move has to effect from the buy signal of the 14-day SMA to give a heavy reversal force against the process before bears get a prevalence session over the presence of bulls. To negate that sentiment, sellers should be cautious of following the aftermath transaction happenings beyond the support of $26,000 even if the lower range line will breach southwardly in the end.
BTC/USD 4-hour Chart
The BTC/USD medium-term chart reveals the crypto business price ranges in variant levels caged by the $27,500 and $30,000 points. Both the indicators are in those values, trending eastwardly in other directions as the 14-day SMA has moved down to conjoin with the 50-day SMA. The Stochastic Oscillators have sprung northbound from the oversold region to penetrate the overbought region by keeping 81.04 to 86.41 levels. And they are somewhat making an effort to close soon. That could mean the price will reject to the extent of seeing lows below the resistance of $29,000 for a while.
Note: Cryptosignals.org 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.
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