Bitcoin (BTCUSD) Price Forecast: May 3
The BTCUSD price may rally above the $70000.00 high level soon as the bears’ pressure on the coin seems to be exhausted soon. The coin has witnessed intense selling pressure and might start the correction phase soon. If the bulls regroup and push higher, the coin could turn positive to reach the $73709.99 previous high and beyond resulting in a great turnaround to the crypto investors.
Key Levels:
Resistance Levels: $64000.00 $65000.00, $66000.00
Support Levels: $51000.00, $50000.00, $49000.00
BTC (USD) Long-term Trend: Bearish (Daily Chart)
Bitcoin is likely to rally above the $70000.00 high level soon as it’s about to commence its bullish rally. The price is trading in a bearish momentum and may resume its rising pattern sooner as the coin market is oversold already.
The persistent pressure from the sell traders to a $56500.00 low value in the last session has made the crypto price remain below the supply levels lately.
At the time of writing this article, the BTCUSD price is down at the $56903.79 support level below the EMA-50, which means that sellers are still dominant at the moment.
Meanwhile, the coin price is likely to face resistance and rally above the mentioned supply level if the bulls can prove stronger.
Similarly, the BTCUSD price might finish the downward correction and start reversing as the market is already oversold. If this is achieved by the long-term investors, the coin price may rally above the $73709.99 previous high value in the coming days in its medium-term perspective.
BTC (USD) Medium-term Trend: Bearish (4H Chart)
On the medium-term chart, the Bitcoin pair is rising gradually and may rally above the supply levels soon as the crypto has just begun its rising pattern. 
The price bars can be seen below the moving averages. This is due to the high inflow from the sell traders. However, there is about to be a turnaround for coin-buy traders.
Pressure from the bears to a $56600.00 low value in the last few hours has dropped the crypto price below the supply trend line in recent times.
The market price of BTCUSD which increases to a $57861.44 high level below the moving averages as the 4-hourly session opens today suggests the return of the bulls to the market and an improved bullish market sentiment.
Meanwhile, a further rise in the market price of the crypto is possible, if the buy traders can trigger their buying pressure and break up the $72631.19 level, the price may rally above the $73000.00 supply level soon in its medium-term time frame.
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