Coinidol.com: Bitcoin Returns to Its $75,000 Low

Bitcoin (BTC) has resumed its downward trend after failing to hold above the $80,000 support level.

BTC Price Long-Term Prediction: Ranging

Since May 6, the largest cryptocurrency has been trading within a range, remaining above the moving average lines but below the $82,500 mark. Buyers were unable to sustain bullish momentum above the $82,500 high. The price was rejected three times at the $82,500 peak, leading to the decline.

Technical indicators

Key supply zones: $120,000, $125,000, $130,000

Key demand zones: $80,000, $75,000, $70,000

Bitcoin Price Indicator Analysis

What Is the Next Move for Bitcoin?

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.