- Possible resistance at $9301
- This week’s highest: $9,906.03
- This weeks lowest: $8,869.93
- Last 1 months highest: $9,996.74
- Last 1 months lowest: $7,434.18
There is some resistance at $9301. Even if $9301 resistance gets through, the next resistance sits at $9,440 & $9,623.
If the $9,623 resistance is crossed, this week’s highest $9,906.03 will be the next strong resistance. In the recent past, 4 attempts have been made to break this resistance following repeated rejections.
As mentioned in BTC/USD’s 22nd May Analysis, 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 23, 2020 reveals there are some chances of upward movement if the current support levels are maintained, towards $9,440 – $9,623. If this resistance is broken, there will be another attempt to test $9,906. However the chance of such upward drastic movement is low. And if the support levels are not maintained and 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. Right now it is important for BTC to maintain above the next support levels to remain in an upward trend.
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