Bitcoin (BTCUSD) Price Forecast: May 5
The Bitcoin (BTCUSD) price is likely to grow more and may break up the previous high of $31050.00 supply value soon. In case the bulls increase their buying motives, the coin price may turn upside to hit the $ 35000.00 high level and beyond.
Key Levels:
Resistance Levels: $22000.00, $23000.00, $24000.00
Support Levels: $20000.00, $19000.00, $18000.00
BTC (USD) Long-term Trend: Bullish (Daily Chart)
The BTCUSD pair is in a bullish market zone in its higher time frame as can be seen from the chart below. The price is currently above the EMA-50 with its wick touching the EMA-9. This is an indication of an uptrend. 
The bullish reversal at the $28899.99 high value during yesterday’s session has sustained the coin above the trend line.
The coin having dropped down to a low at the $28122.00 support value above the EMA-50 as the daily chart resumes today indicates an uptrend. This will give room for the buy investors to influence the price tendency
Hence, staying above the supply levels indicates a strong possibility for a bullish correction. A strong breakup above the $31050.00 resistance point would strengthen the bullish pressure.
Should the bulls prove stronger and increase the buying pressure the coin price might turn up from the $28122.00 support level to retest the previous high of $31050.00 supply mark, as a result, the price of Bitcoin might hit the $35000.00 high level in the days ahead.
BTC (USD) Medium-term Trend: Bearish (4H Chart)
The market value of Bitcoin can be seen in a bearish scenario in its medium-term outlook. This is due to interference from sell traders.
The increase in the momentum by the bears at the $27919.30 support value during yesterday’s session has dropped the coin price below the supply trend line.
Action from the bears further dropped the price of BTCUSD down to a low at $28122.00 low value below the supply levels as the 4-hourly chart resumes today. Meanwhile, traders who buy at the bearish market will get a lower rate and as well make more gains in the future.
Thus, if the bulls could increase their swagger and exchange hands with the bears at the current support level, the price of Bitcoin might turn upside to reach the $35000.00 supply level in the days ahead in its medium-term perspective.
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