Others are ready to wait for volatility to re-enter the market, but they do not want to disclose whether Bitcoin will eventually explode or fall below the testing levels of earlier this year.I expect BTC to have a big move next week
Others are ready to wait for volatility to re-enter the market, but they do not want to disclose whether Bitcoin will eventually explode or fall below the testing levels of earlier this year.
I expect BTC to have a big move next week. 31-32k is resistance. Support 29k. Keep it simple, "he concluded.
If there is a breakthrough above, don't get too excited. We are actually high in the mountain range. If there is a breakthrough, the next key area is 27-28k. If it holds, be prepared to buy back. If it falls below 19-23k, it is still possible. Play this level by level. That's it
Bitcoin prices are attempting to rise again above the 30400 resistance zone. However, BTC still did not stabilize at the level of 30350 and began a new decline.
There was a bearish reaction below the $30000 support zone and the 100 hour simple moving average. The price fell below the 61.8% Fib pullback line from a low of $29650 to a high of $30333.
The transaction price of Bitcoin is below $30000 and the 100 hour simple moving average. On the BTC hourly chart, there is also a key bullish trend line that forms support around $29720.
Direct resistance is around the $30000 level and the 100 hour simple moving average. The first major resistance is around $30150. The next major resistance is around $30350 and $30400. The closing level above $30400 may start a new upward trend.
In this case, the price may rise to the level of $30850. Any further increase could open the door to moving towards the resistance zone of $31200.
Will Bitcoin hit a new low again?
If Bitcoin fails to establish resistance at this position of $30000, it may continue to decline. The direct support for the downward trend is around the $29720 level and trend line.
The next important support level is around $29650, below which the price may return to the key support level of $29500. If BTC fails to maintain support above $29500, bears may aim for a new low below $29200. The next support level is around $28650. Any further losses may require reaching a level of $28200 in the short term.
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