{"id":454370,"date":"2021-01-13T03:38:57","date_gmt":"2021-01-13T03:38:57","guid":{"rendered":"https:\/\/wncen.com\/?p=454370"},"modified":"2024-06-11T14:12:42","modified_gmt":"2024-06-11T14:12:42","slug":"bitcoin-btc-could-revisit-30k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-could-revisit-30k\/","title":{"rendered":"TA: Bitcoin Struggles Below $35K, Why BTC Could Revisit $30K"},"content":{"rendered":"
Bitcoin price failed to clear the key $36,000 resistance zone against the US Dollar. BTC is showing a few bearish signs and it could continue lower towards $30,000.<\/em><\/p>\n After trading as low as $30,312, bitcoin price started a fresh increase. BTC surpassed the $32,000 and $34,000 resistance levels to move into a positive zone.<\/p>\n The price even spiked above the $36,000 resistance. However, there was no close above $36,200 and $36,500 (a major hurdle as discussed yesterday<\/a>). As a result, there was a rejection near $36,500 and the price declined below the $35,000 level.<\/p>\n There was a break below the $34,000 level and the 100 hourly simple moving average. The price even broke the 50% Fib retracement level of the upward move from the $30,312 low to $36,617 high.<\/p>\n <\/a><\/p>\n There is also a major bearish trend line forming with resistance near $34,600 on the hourly chart of the BTC\/USD pair. An initial support on the downside is near the $32,700 level. It is close to the 61.8% Fib retracement level of the upward move from the $30,312 low to $36,617 high.<\/p>\n The next major support is near the $31,700 level, below which bitcoin price might continue to move down towards the $30,500 and $30,000 levels. Any more losses could lead the price towards the $28,000 support zone.<\/p>\n To move into a positive zone, bitcoin price needs to clear many hurdles, starting with $34,600. The first major resistance for the bulls is near the $35,000 level.<\/p>\n\n
Bitcoin Price is Showing Bearish Signs<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Increase in BTC?<\/h2>\n