Demand Pressure at Key Support Hints Bitcoin Price to Rise 7% in Coming Week; Enter Now?

Amid the increasing supply pressure in the market, the Bitcoin price showed a decisive breakdown attempt from the monthly support of $27000-$26786 on May 12th. However, by the end of the day, the buyers undermined nearly the entire selling pressure and pushed the prices up with a long tail formation. This rejection candle indicates the buyers continue to defend this support which encourages a potential bullish reversal.