Bitcoin (BTCUSD) Price Forecast: May 9
The BTCUSD market is ready to regain its strength and, therefore has a potential for a bullish rise as the crypto is currently facing a positive market sentiment. With strong buying pressure and a positive market sentiment the coin has the potential to continue its bullish run and the price could still go higher if it’s able to break up the $73679 previous high level, then the next target by the bulls might reach the $75000 upper resistance level, resulting to a great investment opportunity in the crypto world.
Key Levels:
Resistance Levels: $61000.00 $62000.00, $63000.00
Support Levels: $50000.00, $49000.00, $48000.00
BTC (USD) Long-term Trend: Bearish (Daily Chart)
Bitcoin portrays a bearish market trend in its long-term outlook. The price has the potential for a bullish rise as the bulls are seen correcting the supply level. The price now trades in a bearish market due to the interference from the bears. 
The sustained market sell-off by the bears at the $62720 support level during yesterday’s session has contributed to its bearishness in its recent price level. Meanwhile, the BTCUSD price has the potential for a bullish rise as the bulls are now set for rebalance.
Today, the price was able to pull back and is taking the $64415.06 resistance near the EMA-50. More upsides are possible if the bulls can breach the moving averages.
Adding to that, the Bitcoin price indicates an uptrend on the daily signal. This means that the crypto has the potential for a bullish rise. Under the influence of this market level, the coin could rise steadily soon and break up the previous high at $73679 level to reach the $75000 resistance level soon as we watch the crypto market turn bullish in the long-term perspective.
BTC (USD) Medium-term Trend: Bullish (4H Chart)
The momentum on the medium time frame is undeniably bullish. The coin price has the potential for a bullish rise while the prices are above the moving averages, this means it’s in a bullish market.
The bullish pressure at the $63887 supply level in the past few hours has made the coin price have the potential for a bullish rise above the resistance level lately.
The market value of BTCUSD at a $63694.36 supply level is seen above the EMA-50 as the daily chart opens today. This shows that the coin price has the potential for a bullish rise and creates an opportunity for the buy traders to influence the price tendency.
Further, the Bitcoin market is pointing up on the momentum signal, this implies that the crypto price has the potential for bullish rise, so buy traders are already set to dominate the market activities. We therefore expect the price to soar higher to a $75000.00 resistance trend line as the journey up north continues in its medium-term outlook.
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