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Bitcoin Price Prediction Today: Daily (BTC) Value Forecast – May 21

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  • In the last one week, the BTC price fluctuated between the levels of $7,250 and $8,250.
  • The BTC price is characterised with small body candlesticks describing the indecision of buyers and sellers at the current market price.

BTC/USD Medium-term Trend: Ranging

  • Resistance Levels: $8,250, $8,500, $8,250
  • Support levels: $7,750, $7,500, $7, 250

Yesterday, May 20, the price of Bitcoin was in a downward correction to the support of the 12-day EMA and the 26-day EMA. In the last one week, the BTC price fluctuated between the levels of $7,250 and $8,250. Yesterday, it was assumed that a bullish break at the $8,250 resistance level would make the price to rally above $8,500 price level. Today, the BTC price is approaching the upper price range but it is falling now.

If the bulls fail to break the $8,250 resistance level, the crypto’s price is likely to fall to the bearish trend zone. Traders should take advantage of the range bound move. The pointed arrows at the upper price range are entry points where traders can initiate short trades. The short trades should be exited near the lower price level. Similarly, long trades should be initiated at the lower price range and exited near the upper price level. Nevertheless, the daily MACD line and the signal line are above the zero line which indicates a buy signal.

BTC/USD Short-term Trend: Ranging

On the 1-hour chart, the BTC price is in a sideways trend. The 12-day EMA and the 26-day EMA are trending horizontally indicating that price is in a range bound move. The BTC price is characterised with small body candlesticks describing the indecision of buyers and sellers at the current market price.

On the upside, if the bulls break the $8,000 resistance level, the BTC price will retest the $8,250 price level . However, if the bulls fail to break the $8,000 price level, the market will continue its range bound move.. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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Bitcoin Market Price Chart in RealTime

Source: BEG

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