Bitcoin Price Analysis May.21

Consensus NY has ended with a slight disappointment, we could hear that from many crypto investors. Overall, we didn’t witness the huge gains from past years. Following low to average trading volume days, Bitcoin is still fighting to stay on top the $8,400 support level. We can see on the following chart that moving average 50 days is also supporting Bitcoin in these levels, as well as the ascending trend line.

From the bull side, the next major resistance level is at $8,900 – $9,000 – where the MA-200 lies. Afterwards – the next obstacle will be $9,400 resistance.

From the bear side, Breaking down the $8,400 will test $8,200 and then $7,800.

BTC/USD BitFinex 4 Hours chart

BTC May 21

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