- Possible resistance at $9617.8 – $9701.3 & $9,799 – $9,852
- Currently In downtrend in hourly chart
- This week’s highest: $9,906.03
- This weeks lowest: $8,644.23
- Last 1 months highest: $9,996.74
- Last 1 months lowest: $6,834.44
There is some resistance at $9617.8, even if this resistance gets through, a high resistance sits at $9701.3. So there is a higher chance of the graph going down.
If the $9,701 resistance is crossed, this week’s highest $9,906.03 will be the next big resistance where the graph sometimes turns. Thus it is most likely to fall after testing that level.
1 month’s highest $9,996.74 is the most tough resistance to get through at the moment, crossing which is very hard. But if a graph is in uptrend and very near to hard resistance it can cross it and then grow much higher, but the chances of this to happen is very low.
Newsherder’s BTCUSD Daily Price & Forecast of May 19, 2020 reveals there may be an attempt to test the tough resistance level near the area of 9996.74, however the chance of this resistance getting through is pretty low. After a failed attempt, BTC is expected to fall significantly.
1. According to Analysts, BTC’s Impending Golden Cross May Reinforce Bulls:
A popular long-term BTC price indicator is about to turn bullish soon. Moving Average (MA) of the 50-day bitcoin’s price looks set to cross above the 200-day MA within the next 2-3 days. A long-term bull market indicator, “golden crossover,” would be the result of this, and it would be the first since 18th February and only the 7th in BTC’s lifetime.
2. BTC’s demand pushed USDT below $1:
The most popular, oldest and largest stablecoin pegged to the U.S dollar, has declined below the par value for the longest stretch since BTC’s 1 year lows in March.
3. According to this popular Bitcoin analyst, $50,000 Bitcoin price is possible:
Adamant Capital’s founder and popular Bitcoin Analyst Tuur Demeester says that because of the US Dollar’s debasement, $50,000 or even $100,000 BTC price is not as insane as it sounds.