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Title: Bitcoin Price Prediction for Today May 18: BTC Price Holds Above $28K

May 19, 2022 01:06AM ET

By: AnalysisWatch

Last week the price of BTC/USD was limited to the levels of $27,900 and $32,000, holding above $28,000.

Today the bears are trying to break through the $28,000 support. A break below the current support would mean a resumption of the downtrend. However, the May 12 doji candle suggests that there is strong buying pressure on current support.

Today bitcoin is trading at $28,722 at press time. Bears are trying to break support at $28,000. If current support is broken, bitcoin will regain the previous low at $26,591. However, if the bears break support below $26,591, bitcoin will fall further. The market will drop to price levels of $25,000 and $23,000. On the other hand, bitcoin will recover if the current support holds. The price of BTC will rise and reach a high of $32,687. Last week, the bulls failed to break the historical price level of Jan. 24. That is, the high of $32,937. Bitcoin, meanwhile, is trading above the important support level of $28,000.

El Salvador President Nayib Bukele has invited 44 central bankers from developing countries around the world to a three-day conference to discuss Bitcoin and financial inclusion. Delegates from central banks in Ghana and Burundi, Jordan and the Maldives, Pakistan and Costa Rica came to San Salvador for the conference.

President Douglas Rodrguez said, "El Salvador is proud to host representatives from 44 central banks and financial authorities to learn about Bitcoin implementation and measures to promote financial inclusion." The team behind the Bitcoin Beach project is also participating in the training of central bankers. Nicolas Burley, co-founder of Galoy Money, which developed the Bitcoin Beach wallet, explained that "the conference is focused on financial inclusion. They [central bankers] don't have much/no understanding of Bitcoin [...] they want to learn." "

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