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{"id":543919,"date":"2023-07-24T03:22:32","date_gmt":"2023-07-24T03:22:32","guid":{"rendered":"https:\/\/wncen.com\/?p=543919"},"modified":"2024-06-11T14:38:59","modified_gmt":"2024-06-11T14:38:59","slug":"bitcoin-price-plunges-30k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-plunges-30k\/","title":{"rendered":"Bitcoin Price Plunges After Rejection, Here\u2019s Why Bears Aim Fresh Lows"},"content":{"rendered":"

Bitcoin price is moving lower from the $30,350 level. BTC is showing bearish signs and might decline further toward the $29,650 and $29,500 support levels.<\/em><\/p>\n

\n
Bitcoin is moving lower below the $30,000 pivot level.<\/li>\n
The price is trading below $30,000 and the 100 hourly Simple moving average.<\/li>\n
There is a key bullish trend line forming with support near $29,720 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could extend its decline below the $29,500 support zone.<\/li>\n<\/ul>\n
Bitcoin Price Turns Red Again<\/h2>\n
Bitcoin price attempted a fresh increase above the $30,400 resistance zone<\/a>. However, BTC struggled to settle clear the $30,350 level and started a fresh decline.<\/p>\n
There was a bearish reaction below the $30,000 support zone and the 100 hourly Simple moving average. The price declined below the 61.8% Fib retracement level of the upward move from the $29,650 swing low to the $30,333 high.<\/p>\n
Bitcoin is trading below $30,000 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support near $29,720 on the hourly chart of the BTC\/USD pair.<\/p>\n
Immediate resistance is near the $30,000 level and the 100 hourly Simple moving average. The first major resistance is near the $30,150 level. The next major resistance is near the $30,350 and $30,400 levels. A close above the $30,400 level might start a fresh increase.<\/p>\n
$\"Bitcoin$ <\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
In the stated case, the price could rise toward the $30,850 level. Any more gains could open the doors for a move toward the $31,200 resistance zone.<\/p>\n
Fresh Low in BTC?<\/h2>\n
If Bitcoin fails to clear the $30,000 resistance, it could continue to move down. Immediate support on the downside is near the $29,720 level and the trend line.<\/p>\n
The next major support is near the $29,650 level, below which the price could revisit the key support at $29,500. If BTC fails to stay above the $29,500 support, the bears could aim for a fresh low below $29,200. The next support is near the $28,650 level. Any more losses might call for a move toward the $28,200 level in the near term.<\/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 $29,650, followed by $29,500.<\/p>\n
Major Resistance Levels \u2013 $30,000, $30,150, and $31,400.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is moving lower from the $30,350 level. BTC is showing bearish signs and might decline further toward the $29,650 and $29,500 support levels. Bitcoin is moving lower below the $30,000 pivot level. The price is trading below $30,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $29,720 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could extend its decline below the $29,500 support zone. Bitcoin Price Turns Red Again Bitcoin price attempted a fresh increase above the $30,400 resistance zone. However, BTC struggled to settle clear the $30,350 level and started a fresh decline. There was a bearish reaction below the $30,000 support zone and the 100 hourly Simple moving average. The price declined below the 61.8% Fib retracement level of the upward move from the $29,650 swing low to the $30,333 high. Bitcoin is trading below $30,000 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support near $29,720 on the hourly chart of the BTC\/USD pair. Immediate resistance is near the $30,000 level and the 100 hourly Simple moving average. The first major resistance is near the $30,150 level. The next major resistance is near the $30,350 and $30,400 levels. A close above the $30,400 level might start a fresh increase. Source: BTCUSD on TradingView.com In the stated case, the price could rise toward the $30,850 level. Any more gains could open the doors for a move toward the $31,200 resistance zone. Fresh Low in BTC? If Bitcoin fails to clear the $30,000 resistance, it could continue to move down. Immediate support on the downside is near the $29,720 level and the trend line. The next major support is near the $29,650 level, below which the price could revisit the key support at $29,500. If BTC fails to stay above the $29,500 support, the bears could aim for a fresh low below $29,200. The next support is near the $28,650 level. Any more losses might call for a move toward the $28,200 level in the near term. 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 $29,650, followed by $29,500. Major Resistance Levels \u2013 $30,000, $30,150, and $31,400.<\/p>\n","protected":false},"author":67,"featured_media":451998,"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":[428,679,1144,78790,76835],"class_list":["post-543919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Plunges After Rejection, Here\u2019s Why Bears Aim Fresh Lows<\/title>\n<meta name=\"description\" content=\"Bitcoin price is moving lower from the $30,350 level. 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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":"Bitcoin Price Plunges After Rejection, Here\u2019s Why Bears Aim Fresh Lows","url":"http:\/\/wncen.com\/news\/bitcoin-price-plunges-30k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-plunges-30k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/12\/shutterstock_179727980.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/12\/shutterstock_179727980.jpg?fit=1000%2C882"},"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","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2023-07-24T03:22:32Z","datePublished":"2023-07-24T03:22:32Z","dateModified":"2024-06-11T14:38:59Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Plunges After Rejection, Here\\u2019s Why Bears Aim Fresh Lows\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-plunges-30k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-plunges-30k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/shutterstock_179727980.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/shutterstock_179727980.jpg?fit=1000%2C882\"},\"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\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2023-07-24T03:22:32Z\",\"datePublished\":\"2023-07-24T03:22:32Z\",\"dateModified\":\"2024-06-11T14:38:59Z\"}<\/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\/2020\/12\/shutterstock_179727980.jpg?fit=1000%2C882","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/543919","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=543919"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/543919\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/451998"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=543919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=543919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=543919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}