Bitcoin Price Prediction: BTC/USD Slumps to $42,000, Bears Target $40k Bitcoin Price Prediction – May 17, 2021 BTC/USD has continued the downward move after a retest at the $50,000 psychological price level. After the rejection from the $58,000 high, BTC price plunged to $46,601 low on May 13. Bitcoin consolidated above $46,601 for three days before the bears resumed selling pressure Resistance Levels: $65,000, $70,000, $75,000 Support Levels: $50,000, $45,000, $40,000 BTC/USD – Daily Chart In the last bearish impulse on May 13, BTC/USD consolidated above $46,601 for three days. Buyers attempted to push BTC price upward. In the first upward move, the king coin was repelled at the $51,000 high. Sellers push back the coin and retested the $46,000 support. The bulls made another push on the upside. Buyers were overwhelmed as the BTC price slumped again to $43,000 support. Bitcoin is hovering now above the $42,000 support. It is not likely; the bulls will give up the $40,000 to $43,000 support zones. Bitcoin will have deeper correction if buyers fail to defend these support zones. Besides, any failure will cause Bitcoin to decline sharply on the downside.