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Bitcoin (BTC) price prediction for May 19th
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The Bears took the lead on the final day of the week in second CoinMarketCap.
The best coins of CoinMarketCap
Bitcoin/USD
Since yesterday the price of Bitcoin (BTC) has fallen by 0.19%. In the last week the price increased by 9.57%.
Image by TradingView
On the hourly chart, the BTC rate appears bearish as it is returning to the $66,853 support level. If nothing changes by the end of the day, we can expect a breakout followed by a move towards the $66,500 area.
Image by TradingView
On a broader timeframe, the price of the leading cryptocurrency made a false breakout of the resistance at $67,482. If the candle closes near its low, there is a possibility of a drop to $66,000 next week.
Image by TradingView
A better situation occurs on the weekly time frame. The bar is about to close near the $66,900 level.
If the bulls manage to maintain the gained initiative, the accumulated energy could be enough for a further upward move towards $70,000.
As of this writing, Bitcoin is trading at $66,863.
About the author
Serhiichuk denies
With more than 5 years of trading experience, Denys has a deep understanding of both technical and fundamental market analysis. Mainly, he started his blog on TradingView where he publishes all the relevant information and makes predictions about the best coins.
Therefore, his experience is supported by working in major blockchain-related companies such as W12, Platinum Listing, ATB Coin and others, who can be contacted at Denis.serhiichuk@u.today.