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Bitcoin (BTC) Price Analysis for May 12


Bulls couldn’t seize the initiative at present, and the charges of cryptocurrencies have continued happening. Solana (SOL) is the largest loser among the many high 10 cash, falling by virtually 22%.

Top coins by CoinMarketCap
Prime cash by CoinMarketCap

BTC/USD

Bitcoin (BTC) has fallen the least at present, declining by 8.45% during the last 24 hours.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the hourly chart, Bitcoin (BTC) has damaged the native degree at $29,283 and is attempting to repair above. If patrons succeed, the upward transfer can proceed to the very important zone round $30,000.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the every day time-frame, Bitcoin (BTC) has made a false breakout of the extent of $27,757.

If the shopping for quantity retains rising, the upward transfer can proceed above the very important $30,000 mark.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the weekly chart, Bitcoin (BTC) has additionally made a false breakout of the previous degree at $25,831. The promoting buying and selling quantity stays excessive, which implies that bears aren’t going to surrender. Nonetheless, if the weekly candle closes above the $30,000 mark, the upcoming week is perhaps bullish for the main cryptocurrency.

Bitcoin is buying and selling at $29,203 at press time.



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