Bitcoin (BTCUSD) Price Forecast: May 24
The BTCUSD market has recently turned bullish and might head to the previous high level of $73709.99 as the crypto is currently waving to the support level. The coin is very likely to continue growing as we are seeing a bullish correction in place. Thus, with increasing trading activity and investor interest, the potential rally could surge higher to hit $75000.00 and beyond, reflecting the broader bullish trend in the cryptocurrency market.
Key Levels:
Resistance Levels: $68000.00 $69000.00, $70000.00
Support Levels: $59000.00, $58000.00, $57000.00
BTC (USD) Long-term Trend: Bullish (Daily Chart)
BTCUSD rebounded after updating yesterday’s low. The coin is now in the bullish market trend and might head to the previous high level. 
The successful breakout by the bulls to the $71560.90 supply value in the past few days has made it possible for the coin price to retain its bullish strength lately and might head to the previous supply level soon.
The Bitcoin price has moved up to a $70361.98 high level above the EMA-50 as a pullback from the buyers as the daily chart resumes today. This is a result of more concerns from the buy investors.
Therefore, should the bulls increase their buying activity; the price might head to the $73709.99 previous supply level, resulting in a good investment opportunity for the investors.
Also, the momentum indicator which is pointing up indicates that the price of BTCUSD is in an uptrend and might head to the $75000.00 supply level sooner in the higher time frame.
BTC (USD) Medium-term Trend: Bearish (4H Chart)
The Bitcoin market also indicates a bullish sentiment and might head to the previous supply levels soon in its medium-term outlook. The coin prices are traded above the supply level which confirms its bullishness.
The sustained pressure from the bulls at the $70384.40 high level in the past few hours has enhanced the crypto’s price above the supply trend line in recent times.
The bulls made a corrective rally up to a $70226.98 high level above the moving averages shortly after the 4-hourly session opens today, based on the outlook, the price might head to the the$71560.90 resistance level, renewing the investors’ interest.
Further, the BTCUSD price is pointing up indicating an uptrend as shown by the price indicator; it means that the buying pressure will continue. As a result of that, the bullish race might head to the $75000.00 resistance level in the coming days in its medium-term outlook.
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