Bitcoin (BTCUSD) Price Initiates another Uptrend at $109,287

Bitcoin (BTCUSD) Price Forecast: May 26

Today, Bitcoin market is catching the attention of crypto enthusiasts as it initiates another uptrend at the $109,287 value with its promising performance. The coin price is on the rise and could pump ahead to test the previous resistance level of $112k if the buy traders put more effort into their trading activities, the supply level of $109,287 may not hold, and it might be exposed to its target resistance level of $120k, bolstering buyers for high recovery.

Key Levels:
Resistance Levels: $109k,, $110k, $111k
Support Levels: $77k, $76k, $75k

BTC (USD) Long-term Trend: Bullish (Daily Chart)

The BTCUSD price is gaining traction again as it initiates another uptrend above the supply levels, targeting the upper channel amidst a market recovery in the long-term outlook.
The coin price is trending above the moving averages, with huge volumes from the bulls pumping ahead. Thus, the bulls are in control of the recent market.

The coin market has appeared attractive to buyers at its recent high due to the bull’s persistent order flow to the $111,722 supply in the last few days.

After completing the previous drops to a $106,800 low, the Bitcoin price made a pullback or initiated another uptrend at the $109,287 high mark above the EMA-50 to resume the daily chart, suggesting sparking investors’ interest and momentum.

Thus, a possible breakout from the mentioned supply will accelerate the buying momentum and push the coin price higher to hit the $112k resistance level.

Hence, the BTCUSD uptrend may continue, and the emergence of more buyers to pump ahead is likely, as indicated by the stochastic signal pointing up. This will accelerate the emergence of the bulls to as high as $120k in the days ahead as the crypto looks for more increase in the higher time frame.

BTC (USD) Medium-term Trend: Bullish (4H Chart)

The high inflow from investors also made the BTCUSD price initiate another uptrend and trade in the bullish trend zone in its medium-term outlook.
The previous bullish trend at a $108,675 high level has sustained the crypto’s price to initiate another uptrend above the supply levels in its recent correction.

At press time, Bitcoin price begins another uptrend to the $109,287 supply level as the 4-hourly chart resumes today, suggesting an intraday gain for coin investors.

If the bull’s performance persists and bullish momentum is sustained above the $112k resistance trend lines, further bearish sentiment will be put on hold.

Additionally, the daily stochastic remains upward. Hence, if the buy traders break above a $112k previous supply trend line, the market participants may initiate another uptrend and witness a new recovery rally to reach the $120k upper high mark in the days ahead in its medium-term time frame.

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