Price predictions 5/29

#Bitcoin price prediction

Bitcoin’s failure to maintain above the $109,588 level may have attracted selling by short-term traders.

The bears will try to pull the price to the 20-day exponential moving average ($105,453), which is a key level to watch out for. If the price rebounds off the 20-day EMA with strength, it suggests that the sentiment remains positive and traders are buying on dips. That improves the prospects of a retest of the $111,980 level. If buyers overcome the $111,980 resistance, the BTC/USDT pair could surge to $130,000.

Contrarily, a break and close below the 20-day EMA could strengthen the bears. The pair could then plummet to the psychologically crucial support of $100,000, which is likely to attract solid buying by the bulls.