BTC/USD

  • Possible resistance at $9475
  • This week’s highest: $9,906.03
  • This weeks lowest: $8,869.93
  • Last 1 months highest: $9,996.74
  • Last 1 months lowest: $7,081.59 

Also Read: UK Reports Record High Budget Deficit

There is some resistance at $9475. There is no significant resistance between $9475 & $9,890  So there is a higher chance of the graph going up. 

If the $9,475 resistance is crossed, this week’s highest $9,906.03 will be strong resistance. In the recent past, 4 attempts have been made to break $10,000 following repeated rejections. As predicted in BTCUSD’s 21st May Analysis, after breaking support levels of $9,257 & $9,013, Bitcoin was pushed below $9,000 to the support level near predicted $8722: approx. $8,8815.

The support at $8732 & $8405 levels is the most crucial at the moment, if broken then BTC’s price will be pushed back to under $8,000.

Newsherder’s BTCUSD Daily Price & Forecast of May 22, 2020 reveals there are some chances of upward movement if the price breaks $9,475 as there is no significant resistance before $9,890 levels. But if the $8,732 support is broken, next support sits at $8,405 after which BTC will be pulled back to below $8,000 somewhere around $7,990  acting as a strong support. 

Must Read: Amidst ‘Lagging Morale’ Bitcoin.com Appoints New CEO For The Third Time in 2020

Bitcoin News

1. Bitcoin whale pays $2.50 fee to move $400M

Someone just moved $400Mn in Bitcoin and paid only $2.50 fee. https://t.co/ic0zP9CiyG

 

2. BTC’s 3 Price Metrics Just Converged  

Keeping aside this week’s Bitcoin price drop, a basket of one quant analyst’s favorite metrics is still quite bullish.

 

3. Blockchain Bill of Rights

Deloitte, Colombia, ConsenSys Signs World Economic Forum’s ‘Blockchain Bill of Rights’.