Bitcoin fell below $ 28,500 in support of the US dollar. BTC is falling and the support level could continue to fall to $ 27,500.
Bitcoin It is falling and is approaching the core resistance level near $ 29,600. Prices are currently trading below the $ 29,000 level and the 100-hour simple moving average. With the BTC / USD pair on the clock, a trend line near $ 29,600 is emerging. If the pair falls below the $ 28,500 support, the fall could continue.
BTC / USD under sales pressure
Bitcoin is worth less than $ 30,000. BTC fell sharply below the $ 28,500 support level and began a new downturn. The bears lowered the price to less than $ 28,000. The price even tried the $ 27,500 support level, and a low was created at that level. However, the price recovered quickly, rising to more than $ 28,500. The bulls cost more than $ 29,000, but they were in trouble for about $ 29,600.
BTC / USD
With the BTC / USD pair on the clock, a trend line near $ 29,600 is emerging. Bitcoin traded below 23.6 percent Fib retracement level from a low of $ 27,505 to a high of $ 29,749.
It is currently trading below $ 29,000 and also under the 100-hour light moving average. On the upside, the immediate resistance is near the $ 29,250 level. The next significant resistance is around $ 29,600 and a 100-hour simple moving average.
The biggest hurdle is around $ 29,750. The swing from $ 27,505 is nearing a 50% Fib recovery level to a high of $ 29,749. A clear break above $ 29,750 could lead to a significant increase. In the case of the above, the price could increase to $ 30,600 in the defense zone.
More Bitcoin losses?
If Bitcoin does not cross the $ 29,600 resistance level, it could continue to fall. On the plus side, there is immediate support near the $ 28,650 level.
The first major donation is around $ 28,500. Vacations below the $ 28,500 support level could lower the cost. In this case, the price could return to the $ 27,500 support level. good luck!