Bitcoin (BTC/USD) is facing bearish pressure, with the price dropping to the 30000 level. Potential support levels include 29863, 29427, 28886, 28804, 28182, 28096, and 27306. Buying pressure has been seen around the 30198 and 29863 levels, with previous rallies around the 26165 and 24750 areas. The recent high of 31443.67 was a test of an upside price objective associated with buying pressure around 26637.41. Stops were triggered above the 30127.80 level, which is linked to historical buying pressure at 15460 and 19568.52. Additional upside price objectives are at 29068, 29159, 29458, 30088, 30200, 30292, 30477, 31737, 32125, and 33569. Technicians are watching for support around 28095.44. Moving averages indicate bullishness on the 4-hourly chart but bearishness on the hourly chart. The nearest MA levels are at 29838.91 and 30430.69. Technical support is expected at 24440.41, 23270.10, and 22769.39, with resistance at 31986.16, 32989.19, and 34658.69. The SlowK and MACD indicators have mixed signals on the 4-hourly and 60-minute charts.
Continue reading on Cryptodaily.co.uk
