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.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $28,200, followed by $27,700.
Major Resistance Levels – $29,500, $30,000 and $31,400.
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.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $28,200, followed by $27,700.
Major Resistance Levels – $29,500, $30,000 and $31,400.