Bitcoin Price in Danger as it Nears $27K, But 'Bullish Cross' on the Horizon

[{"selector":"#anim-36db571a-2cc8-4908-bce4-8a60a08e9889 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Bitcoin (BTC) price was at $27,197 and falling towards $27,000 on May 11th, as bullish activity was weak.

[{"selector":"#anim-6455a552-4b13-4147-9576-ef4e6899d54d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Cointelegraph Markets Pro and TradingView followed BTC/USD as it risked losing more support.

[{"selector":"#anim-dc2e6813-2091-4830-a908-d90ac1cec3e3 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Many market participants prepared downside targets, with some focusing on the area around $2 5,000.

[{"selector":"#anim-79992665-5a32-4916-a3ea-2c7a910becea [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Traders remain cautious, waiting for bulls to retake daily open before considering a possible reve rsal scenario.

[{"selector":"#anim-bde2cc4c-b7a6-475b-ab2f-4690e7221322 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Trader and analyst Moustache remained bullish, citing the SMA 20/200 about to cross bullishly. Learn more

[{"selector":"#anim-c5a2edce-7d42-49b5-b713-88c8333c92ab [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Encouraging US Producer Price Index (PPI) and unemployment data gave crypto investors cause fo r cautious celebration. Learn more

[{"selector":"#anim-21919d29-4387-4ec9-8fd6-d57e7ccdc695 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The odds were on for interest rates to stop rising in June, with market consensus for a June rate hike pause at over 96%. Learn more