Bitcoin (BTCUSD) Price Forecast: May 2
The Bitcoin price may rebound soon to resume another uphill trend. The coin price may likely retrace in a bullish direction and soon be prepared for another probable upward surge. The price may perhaps turn positive to retest the previous high of $73709.99 level if the selling pressure is put on hold and buyers can demonstrate their strength and trade hands with sellers at the current support level of $56500.00, the next upsurge by the bulls could reach the $70000.00 upper high level
Key Levels:
Resistance Levels: $65000.00, $66000.00, $67000.00
Support Levels: $54000.00, $53000.00, $52000.00
BTC (USD) Long-term Trend: Bearish (Daily Chart)
The Bitcoin market is bearish and may likely rebound soon in its long-term outlook, as seen from the chart below. The sustained pressure from the bears at the $59040.30 support level during yesterday’s session has contributed to its bearishness in its recent low.
Today, the bears made a further drop to the $6500.00 low level below the moving averages.
Thus, the price tendency may rebound at the mentioned support and climb over the crucial levels if the bulls raise their level of market tension.
In addition, BTCUSD may rebound soon and face the upsides as the market is now trading around the 10% range of the daily stochastic; it means that the selling pressure will end soon. This will compel the buy traders to resume an uptrend and may likely break up the $73709.99 supply level soon in its higher time frame.
BTC (USD) Medium-term Trend: Bearish (4H Chart)
On the medium-term outlook, the Bitcoin market may rebound soon as the coin market is already oversold. The coin price is seen below the moving average which indicates a bearish trend. 
The persistent bearish pressure in the past few days has made the crypto price remain below the supply trend levels at its recent low.
As the 4-hourly chart begins today, bearish actions sent the coin price lower, reaching the $57026.36 support level below the EMA-50. Hence, the crypto price may rebound soon as the selling pressure seems to be exhausted.
Thus, more intraday gains would be recorded for the buy investors if the bulls could exchange hands with the sell traders at the mentioned support and close the 4-hourly chart above the $72631.19 barrier level.
Additionally, the price of BTCUSD may rebound soon and swing up above its previous high at the $72631.19 value soon as the coin market price now trades in the oversold region, this will compel the bulls to resume the upward move and in this case, the price might push higher to the $70000.00 supply mark and beyond in the days ahead in its medium-term time frame.
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