Bitcoin price (BTCUSD) approaches the target – Forecast today - 09-05-2024

Bitcoin Price (BTCUSD) Analysis

Forecasts and Analysis

• Bitcoin price (BTCUSD) shows more decline to approach our waited negative target at 60252.85$, falling under negative pressure coming by the EMA50.
• This might push the price to surpass the mentioned level and open the way to suffer more losses on the intraday basis, noting that confirming the break will extend the bearish wave to reach 56100.00 areas.
• On the other hand, we should note that breaching 62725.00$ will stop the current negative pressure and lead the price to attempt to recover and achieve gains that start by visiting 65390.00$ areas.

Expected Trading Range

The expected trading range for today is between 59000.00$ support and 63000.00$ resistance.