BTC Price Analysis for May 16: $50,000 Test? The first cryptocurrency still looks bearish, but the bulls are starting to emerge from the stupor caused by last week's sharp fall Saturday was hot for bitcoiners. The cryptocurrency chart shows a green candle above $50,000. However, the coin rolled back in price during the day, and at the time of writing it was trading at $47,318. The support level tested on Saturday was 47,000. The price of the cryptocurrency only once broke it, falling to 46 641 dollars. However, the bulls quickly bought the fall.     Currently, the $50,000 breach is up again. Then the resistance is at the level of 51.5 and 53 thousand dollars. We expect the bulls to try to break into this zone on May 16. The bitcoin market is reviving. Despite the fall in capitalization below one trillion and the decline in value, the volume of trading is growing. Probably the stimulus is local volatility (within $2,000) that has been established in the last couple of days. In the medium term, the outlook for the cryptocurrency is bearish. This momentum has been going on since the end of April. After setting several record highs followed a reversal of the trend and a deep correction. The new ATH is still a long way off. In the short term, the market is moving towards higher local highs. A base is being created for further upward movement. If the Bulls can break 50 and 51.5 thousand on Sunday, it will create the conditions for a winning rally next week. You can track the price of bitcoin and trade on Binance. Subscribe to our Telegram, Twitter and Facebook to be the first to know the news of cryptocurrencies! This review is not an advertisement or a recommendation to action, but merely an informational one. The publisher and the author are not responsible for your decisions.