Bitcoin price forecast
In the technical analysis of the price of Bitcoin (BTC/USD) today, May 3, 2024, the digital currency is trading at $59,520, reflecting a decline of 1.25%. Bitcoin is currently below the pivot point at $59,328, indicating a bearish outlook in the short term.
As for the resistance levels to watch, they are found at $61,698, followed by $64,649 and $67,065. If the currency is able to bounce back and rise above these hurdles, this could indicate a shift towards a more optimistic direction.
For its part, technical indicators increase the overall negativity, as the Relative Strength Index (RSI) reading indicates 34, and the 50-day Exponential Moving Average (50-EMA) indicator is located at $61,856, and both indicate bearish momentum unless Bitcoin can... From rising above the $59,328 level and stabilizing above
