BTC took a hit with news the US Justice Department would be launching a criminal investigation probe into price manipulation. Could the price plummet below $7,000 as pressure to introduce regulation builds? Gain insight into the latest 25 May BTCUSD Price Technical Forecast.
25 May, OctaFX – The cryptocurrency market suffered another week of heavy losses, amidst strong technical selling and bearish fundamental news.
Cryptocurrencies comes under heavy selling pressure
A lack of overall buying interest caused popular alternative coins like Bitcoin, Ethereum, Ripple, and Litecoin to suffer double-digit trading losses, with selling intensifying as a series of key technical levels were breached across the digital currency space. Further selling was also seen across the cryptocurrency market, as news broke that the US Justice Department had opened a criminal probe into whether traders are manipulating the price of Bitcoin and other digital currencies in the United States.
25 May BTCUSD Price Technical Forecast
- The BTCUSD pair remains strongly bearish while trading below the $7,800 level, further selling towards $7,000 and $6,500 remains possible.
- If the BTCUSD pair starts to trade above the $7,800 level, buyers may test towards the $8,000 and $8,250 resistance levels.
This article about 25 May BTCUSD Price Technical Forecast was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.