Expert predicts a 2-fold decrease in the price of bitcoin

A trader known as Cred told his audience that bitcoin (BTC) is at the level of testing price support. According to technical analysis, if there is no significant increase in the value of the leading asset in the coming days, which will bring BTC out of dangerous proximity to the critical level, there will be a significant decline in the market rate.

In his message, the crypto analyst said: «If a strong rally does not occur during this week (until May 30 before the month closes), the macro range will be broken.»

The expert added that even if the price rises again after the start of the new month, this movement will not affect the change in market sentiment. If the price goes up, the analyst expects a short-term increase in value to $ 35,000 — $ 37,000.

Cred believes that even after the growth, there will be another support test at $ 30,000. The most negative scenario includes a 50% decline in the value of bitcoin with stops at $ 20,000 and $ 14,000 within one month.