Price analysis 5/16: BTC

If price rebounds off $28,805, the bulls will again try to push the BTC/USDT pair to the 20-day exponential moving average (EMA) ($33,646). This is an important level to keep an eye on because a break and close above it could indicate that bulls are attempting a comeback. The pair could then rise to the 50-day simple moving average (SMA) ($39,300).

Contrary to this assumption, if the price slips below $28,805, the pair could drop to $26,700. If this support cracks, the pair could resume its downtrend and the price may plummet to $25,000 and later to $21,800.

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