Bitcoin Price Analysis

Bitcoin price analysis; Is it possible to fall again to $ 30,000?

The bitcoin price was able to rise above $ 33,000 and $ 33,500 during a slow increase and even crossed the resistance level of 34,000, but could not cross the barrier of a simple 100-day moving average.

to the the report NewsBet, Bitcoin is resisting at $ 34,000 and a simple 100-day moving average. Yesterday we saw a peak at $ 34,877. Each bitcoin unit is currently trading at $ 32,700 with a correction. The current area under Fibonacci is 23.6%, which in the recent revival was from $ 28,900 to $ 34,877.

In the event of a fall, the first support is $ 31,800. The support is near 50% Fibonacci, which in the recent revival ranged from $ 28,900 to $ 34,877.

The first resistance to bitcoin is $ 33,800. On the other hand, in the 1-hour timeframe, we see the formation of a significant downtrend line near $ 33,800. Currently, the main resistance of Bitcoin is $ 34,000.

To climb further, Bitcoin must first cross the 100-hour moving average barrier and then move to the $ 34,000 resistance. $ 35,000 can be considered as one of the heavy resistance of Bitcoin.

Bitcoin price analysis

If the price of Bitcoin does not cross the $ 34,000 or downtrend line, it is more likely to fall. In that case, the first support will be $ 31,800.

$ 31,200 is considered to be the main support for Bitcoin. A drop below $ 31,200 could pave the way for a fall to $ 30,000.

The MACD is slowly entering the downtrend. The relative strength index (RSI) in one-hour timeframe has returned below 50 again.

As mentioned earlier, $ 31,800 and $ 31,200 are bitcoin support. At $ 33,800, $ 34,000 and $ 35,000, resistance levels are forming.


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