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{"id":490277,"date":"2022-05-12T03:28:08","date_gmt":"2022-05-12T03:28:08","guid":{"rendered":"https:\/\/wncen.com\/?p=490277"},"modified":"2024-06-11T14:20:54","modified_gmt":"2024-06-11T14:20:54","slug":"bitcoin-breaks-30k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-breaks-30k\/","title":{"rendered":"TA: Bitcoin Breaks $30K, Why This Could Turn Into Larger Downtrend"},"content":{"rendered":"

Bitcoin failed to recover above $32,000 against the US Dollar. BTC is gaining bearish momentum and trading below the key $30,000 support zone.<\/em><\/p>\n

\n
Bitcoin started a fresh decline and traded below the key $30,000 support zone.<\/li>\n
The price is now trading below $30,000 and the 100 hourly simple moving average.<\/li>\n
There is a key bearish trend line forming with resistance near $31,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair might accelerate lower below the $27,500 and $27,000 levels in the near term.<\/li>\n<\/ul>\n
Bitcoin Price Dives Below Key Support<\/h2>\n
Bitcoin price attempted a recovery wave<\/a> above the $32,000 level. However, BTC struggled to continue higher and started a fresh decline below $31,000.<\/p>\n
There was a clear move below the key $30,000 support zone and the price settled below the 100 hourly simple moving average<\/a>. The decline gained pace below the $29,500 level. Finally, there was a move below the $28,000 level and the price traded to a new multi-week low at $27,700.<\/p>\n
Recently, there was a minor upside correction above $29,000. Bitcoin recovered above the 23.6% Fib retracement level of the recent decline from the $32,132 swing high to $27,700 low.<\/p>\n
However, the bears were active near the $30,000 resistance zone. The price remained below the 50% Fib retracement level of the recent decline from the $32,132 swing high to $27,700 low. There is also a key bearish trend line forming with resistance near $31,000 on the hourly chart of the BTC\/USD pair. Download Bitcoin Miner Awesom Miner Official for Windows<\/a>. Safe install and earn ETH\/BTC.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
The next key resistance could be near the $31,500 level. The key breakout zone is still near the $32,000 zone, above which the price might start a steady recovery wave in the near term.<\/p>\n
More Losses in BTC?<\/h2>\n
If bitcoin fails to clear the $30,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $28,200 level.<\/p>\n
The next major support is seen near the $27,700 level. A downside break and close below the $27,700 support might accelerate losses. The next major support could be $27,200, below which the bears might aim a move towards the $26,500 support zone. Download Bitcoin Miner Awesom Miner Official for Windows<\/a>. Safe install and earn ETH\/BTC.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n
Major Support Levels \u2013 $28,200, followed by $27,700.<\/p>\n
Major Resistance Levels \u2013 $29,500, $30,000 and $31,400.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin failed to recover above $32,000 against the US Dollar. BTC is gaining bearish momentum and trading below the key $30,000 support zone. Bitcoin started a fresh decline and traded below the key $30,000 support zone. The price is now trading below $30,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $31,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might accelerate lower below the $27,500 and $27,000 levels in the near term. Bitcoin Price Dives Below Key Support Bitcoin price attempted a recovery wave above the $32,000 level. However, BTC struggled to continue higher and started a fresh decline below $31,000. There was a clear move below the key $30,000 support zone and the price settled below the 100 hourly simple moving average. The decline gained pace below the $29,500 level. Finally, there was a move below the $28,000 level and the price traded to a new multi-week low at $27,700. Recently, there was a minor upside correction above $29,000. Bitcoin recovered above the 23.6% Fib retracement level of the recent decline from the $32,132 swing high to $27,700 low. However, the bears were active near the $30,000 resistance zone. The price remained below the 50% Fib retracement level of the recent decline from the $32,132 swing high to $27,700 low. There is also a key bearish trend line forming with resistance near $31,000 on the hourly chart of the BTC\/USD pair. Download Bitcoin Miner Awesom Miner Official for Windows. Safe install and earn ETH\/BTC. Source: BTCUSD on TradingView.com The next key resistance could be near the $31,500 level. The key breakout zone is still near the $32,000 zone, above which the price might start a steady recovery wave in the near term. More Losses in BTC? If bitcoin fails to clear the $30,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $28,200 level. The next major support is seen near the $27,700 level. A downside break and close below the $27,700 support might accelerate losses. The next major support could be $27,200, below which the bears might aim a move towards the $26,500 support zone. Download Bitcoin Miner Awesom Miner Official for Windows. Safe install and earn ETH\/BTC. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $28,200, followed by $27,700. Major Resistance Levels \u2013 $29,500, $30,000 and $31,400.<\/p>\n","protected":false},"author":67,"featured_media":454003,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-490277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nTA: Bitcoin Breaks $30K, Why This Could Turn Into Larger Downtrend<\/title>\n<meta name=\"description\" content=\"Bitcoin failed to recover above $32,000 against the US Dollar. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Bitcoin Breaks $30K, Why This Could Turn Into Larger Downtrend","url":"http:\/\/wncen.com\/news\/bitcoin-breaks-30k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-breaks-30k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/shutterstock_215569255.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/shutterstock_215569255.jpg?fit=1000%2C665"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2022-05-12T03:28:08Z","datePublished":"2022-05-12T03:28:08Z","dateModified":"2024-06-11T14:20:54Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Breaks $30K, Why This Could Turn Into Larger Downtrend\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-breaks-30k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-breaks-30k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/01\\\/shutterstock_215569255.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/01\\\/shutterstock_215569255.jpg?fit=1000%2C665\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2022-05-12T03:28:08Z\",\"datePublished\":\"2022-05-12T03:28:08Z\",\"dateModified\":\"2024-06-11T14:20:54Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/shutterstock_215569255.jpg?fit=1000%2C665","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/490277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=490277"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/490277\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/454003"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=490277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=490277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=490277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

More Losses in BTC?<\/h2>\nIf bitcoin fails to clear the $30,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $28,200 level.<\/p>\n