Bitcoin price (BTCUSD) forecast update - 06-05-2024
Economies.com
2024-05-06 11:08AM UTC
Bitcoin Price Analysis (BTCUSD)
- Bitcoin price (BTCUSD) touched the 65390.00$ level and encountered solid resistance.
- This led to some temporary bearish bias, affected by stochastic negativity.
- However, the EMA50 continues to provide positive support to the price.
- Waiting for the bullish wave to resume and surpass the mentioned level, targeting additional gains up to 67330.00$.
- Therefore, we continue to suggest a bullish trend for the upcoming period.
- Failure to breach the mentioned resistance will stop the expected rise and push the price lower, targeting testing of 60252.85$ areas initially.
Expected Trading Range for Today:
- Support: 62200.00$
- Resistance: 66000.00$
Trend Forecast:
Bullish
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