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Bitcoin (BTC) Price Prediction for May 29

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Wed, 29/05/2024 - 15:11
Bitcoin (BTC) Price Prediction for May 29
Cover image via U.Today

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The sellers' pressure continues on the crypto market, according to CoinStats.

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BTC chart by CoinStats

BTC/USD

The price of Bitcoin (BTC) has remained unchanged over the last day.

Image by TradingView

The rate of BTC is rather bearish as it is near the local support level of $67,556. If buyers cannot seize the initiative until the end of the day, the accumulated energy might be enough for a breakout, followed by a move to $67,000.

Image by TradingView

On the bigger time frame, the price of the main crypto keeps falling. At the moment, one should focus on yesterday's bar's low.

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If buyers lose the $67,000 mark, traders are likely to see a test of the $66,000 zone.

Image by TradingView

From the midterm point of view, the situation is also bearish. If the decline continues, there is a possibility to see an ongoing correction to $65,000.

Bitcoin is trading at $67,838 at press time.

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