Bitcoin Price Prediction for Today, May 13: BTC Price Battles with $30,000

The Bitcoin price prediction is likely to spread the bearish move below $ 29,000 after numerous attempts to hold gains above $ 30,000.

BTC / USD Long-term Trend: Bearish (Daily Chart)

Key levels:

Resistance Levels: $ 37,000, $ 39,000, $ 41,000

Support Levels: $ 23,000, $ 21,000, $ 19,000

BTCUSD – Daily Chart

BTC / USD falls below $ 30,000 as the largest cryptocurrency failed to hold above $ 30,000 following a significant breakout during the European session today. However, the bearish control has been seen across the market, with other major digital assets seeing similar losses when trading below the 9-day and 21-day moving averages.

Bitcoin Price Prediction: Can BTC Price Go Lower?

The Bitcoin price is trading at $ 29,927 with an intraday gain of 3.14% as the king coin is likely to follow the bearish movement. BTC / USD is currently consolidating within the channel and a breakout of this pattern in the direction of the previous trend is expected to continue. In the meantime, BTC / USD is expected to fall and stay below the 9-day and 21-day moving averages which could move towards critical support levels at $ 23,000, $ 21,000, and $ 19,000.

Nevertheless, if the Bitcoin price crosses above the 9-day moving average; the price could rise to the vital resistance of $ 35,000 while a further bullish drive could take the coin to the resistance levels of $ 37,000, $ 39,000, and $ 41,000 respectively. Moreover, the technical indicator Relative Strength Index (14) is currently moving away from the oversold region, which shows that a possible bullish movement may play out within the market.

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BTC / USD Medium-Term Trend: Bearish (4H Chart)

As the market opens today, the Bitcoin price touches the daily low of $ 29,662, but now hovering around $ 29,970. Should the price drop further below the 9-day and 21-day moving averages, it could hit the next level of support at $ 27,000 and below.

BTCUSD – 4 Hour Chart

However, if the bulls push the coin above the upper boundary of the channel, the Bitcoin price could hit the potential resistance level of $ 34,000 and above. For now, the market may continue to experience a downtrend as the technical indicator Relative Strength Index (14) moves below 50-level.

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