Bitcoin Price Analysis: May 21

BTC is looking positive expected soon cross 9000$ but still, sellers are not completely off the ground.

If you look at 24 hours chart it gives you a clear sign of upward movement in BTC prices, In past 24 hours BTC has recovered well, after few failed attempt, cleared its first resistance of 8500$ level but still not in safe zone, At the time of writing BTC price is 8506$ in coinmarketcap.

As market seems to consolidate, 20 bln $ entered the market in last 36 hours. which shows a good sign of recovery now the current market cap is 390 Bln $, if in next 48 hours BTC prices stay above 8559$ then we will see 9k $ price soon, before reaching 9k BTC has to break resistance at 8746$ level then 8900$.

Break below 8500$ will open the gate for downward trend and BTC will retest 8250$ level which is now major resistance, break below 8250$ takes BTC to 8050$ level . if BCT fall further then next resistance would be 7800$ (below 7800$ red alert price may go down to 7k )

Overall if we look at the market now everything is positive, mainstream adoption coming soon, top minds of markets looking at Crypto world and can enter in this space anytime soon expected in Q3 & Q4. which can take prices to ATH (an all-time high). We may be seen good prices soon in today purchase investor can make 15 to 25 percent profit easily.

Analysis By – Neeraj Goel