Bitcoin Price Weekly Update: 10th May – 16th May 2021

by | May 11, 2021 | News | 0 comments

A new week in the bitcoin market as bitcoin price consolidates about $59,505 and $53,722. We expect price to break through this range soon if there are more buyers or sellers in the market.
More buyers may invest in bitcoin as we see an uptrend pattern formation. This is indeed a comforting sign as even we get more confirmations from the MACD indicator.
At level $53,722, we see a huge price rejection causing the price to move up.
Our next wait is for the cross of the MACD moving averages, then we can conclude that another uptrend is forming.

Looking at the technical indicators:

    • Major Support Level – $$56,236
    • Major Resistance Level – $59,505

Our Recommended Exchanges for placing Crypto Trades

for USD/BTC:

for Naira/BTC: 

If you have any questions, leave them in the comment section below. Disclaimer: This article is in no way a financial advisor for your trading. Any action taken in this regard is done at your own risk. Nigerian Bitcoin Community is not liable for any loss or gain as a result of the application of this content. We advise you to do your own research.


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Leke Kayode
I'm an aircraft engineer and mechanical engineer by qualification. By profession I'm an I.T professional, forex trader and cryptocurrency trader. Derive joy impacting people.