Bitcoin (BTC) Price Prediction for May 29

The sellers’ pressure continues on the crypto market, according to CoinStats.

BTC/USD

The price of Bitcoin (BTC) has remained unchanged over the last day.

The rate of BTC is rather bearish as it is near the local support level of $67,556. If buyers cannot seize the initiative until the end of the day, the accumulated energy might be enough for a breakout, followed by a move to $67,000.

On the bigger time frame, the price of the main crypto keeps falling. At the moment, one should focus on yesterday’s bar’s low.

If buyers lose the $67,000 mark, traders are likely to see a test of the $66,000 zone.

From the midterm point of view, the situation is also bearish. If the decline continues, there is a possibility to see an ongoing correction to $65,000.

Bitcoin is trading at $67,838 at press time.

Source