2021-06-09 09:32:46
Bitcoin Extends Losses, Why $30K Holds The Key For Next Wave Bitcoin price extended its decline below the $33,000 support zone against the US Dollar. BTC is currently recovering and it must stay above $30,000 to avoid a larger decline.
Bitcoin extended its decline below the $33,500 and $33,000 support levels.
The price is currently well below $35,000 and the 100 hourly simple moving average.
There is a key rising channel forming with support near $32,300 on the hourly chart of the BTC/USD pair
The pair could start a fresh decline if there is a break below $32,300 and $32,000.If bitcoin fails to clear the $34,000 resistance, it could continue to move down. An initial support on the downside is near the $32,500 level.
The first major support is near the $32,300 level and the channel trend line. If there is a downside break below the channel support, the price could dive to $31,000. The main support is near the $30,000 level. If the bulls fail to protect the $30,000 zone,there will a sharp decline.
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