. BTCUSD Price Forecast & Technical Analysis - 11 May 2023

BTC/USD PRICE FORECAST ANALYSIS & LATEST NEWS – 11 MAY 2023

BTC/USD PRICE FORECAST ANALYSIS & LATEST NEWS – 11 MAY 2023

11 May 2023

BTCUSD Technical Analysis: Weekly Chart

In the weekly charts, the BTCUSD was trading in a down channel. BTCUSD is currently trading above all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 25000.00 & the resistance level is at 30000.00

BTCUSD will trade in an up channel until there is a trend reversal. 

BTCUSD Technical Analysis: Daily Chart

In the daily charts, the BTCUSD was trading in an up channel. BTCUSD is currently trading above all SMA.

RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 25000.00 & the resistance level is at 30000.00

BTCUSD will trade in an up channel until there is a trend reversal.   

How to Trade BTCUSD this Week:

BTCUSD will follow the uptrend until its trend reversal. So, remain bullish on BTCUSD

TRADE SUGGESTION- BUY AT 28000.00, TAKE PROFIT AT 30000.00 AND STOP LOSS AT 25000.00