Bitper oin Priper e Prediper tion for Today May 18: BTC Priper e Holds Above dollar28K
Categories: Bitcoin US
Bitcoin Regains Bullish Momentum as It Holds Above $28K – May 18, 2022 For the past week, BTC/USD has been confined between $27,900 and $32,000 price levels as it holds above $28K. Today, the bears are attempting to break below the $28,000 support. A break below the current support will signal the resumption of the downtrend. However, the Doji candlestick on May 12 has indicated that the current support has strong buying pressure.
Today, Bitcoin is trading at $28,722 as of press time. The bears are attempting to break below the $28,000 support. Bitcoin will revisit the previous low at $26,591 if the current support is breached. Nevertheless, Bitcoin will further decline, if the bears break below the $26,591 support. The market will fall to the lows of $25,000 and $23,000 price levels. On the upside, Bitcoin will rebound if the current support holds. BTC price will rise to reach the high of $32,687. For the past week, the bulls have failed to break above the historical price level on January 24. That is, the high of $32,937. In the meantime, Bitcoin is trading above the crucial $28,000 support.
El Salvador Welcomes 44 Central Bankers to Bitcoin Three-Day Conference
El Salvador President Nayib Bukele has given an invitation to 44 central bankers from developing countries around the world to tackle financial inclusion and discuss Bitcoin at a three-day conference. Central bank delegates from Ghana to Burundi, Jordan to the Maldives, and Pakistan to Costa Rica have arrived in San Salvador for the conference.Meanwhile, Bitcoin is resuming upward as it holds above $28K. The largest cryptocurrency is consolidating between $27,900 and $32,000 price levels. Meanwhile, on May 12 downtrend; a retraced candlestick body tested the 78.6% Fibonacci retracement level. The retracement indicates that Bitcoin will further decline to 1.272 Fibonacci extension or $23,165.80.