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Bitcoin (BTC) price prediction for May 29th
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Seller pressure reportedly continues on the cryptocurrency market CoinStats.
BTC chart of CoinStats
Bitcoin/USD
The price of Bitcoin (BTC) has remained unchanged over the past day.
Image by TradingView
The BTC rate is quite bearish as it is near the local support level of $67,556. If buyers fail to take the lead until the end of the day, the accumulated energy could be enough for a breakout, followed by a move to $67,000.
Image by TradingView
Over a broader time frame, the price of the leading cryptocurrency continues to fall. At the moment you should focus on the low of yesterday’s bar.
If buyers miss the $67,000 mark, traders are likely to see a test of the $66,000 zone.
Image by TradingView
Even from a medium-term point of view, the situation is bearish. If the decline continues, there is a possibility of seeing a continued correction to $65,000.
As of this writing, Bitcoin is trading at $67,838.
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 opened his blog on TradingView where he publishes all the relevant information and makes predictions on 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.