Bitcoin price extended its decline below the $30,000 support against the US Dollar. BTC is finding bids near $29,250 and it might attempt an upside correction.
Bitcoin is following a bearish path and it broke the key $30,000 support zone. The price is now trading well below $31,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $31,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a decent upside correction if it remains stable above the $29,250 level. Bitcoin Price Settles Below $30K
Bitcoin price extended its decline below the $30,200 and $30,000 support levels. BTC even settled well below the $30,000 level and the 100 hourly simple moving average to move further into a bearish zone.
The price even spiked below $29,500 and traded as low as $29,313. It seems like bitcoin is forming a support base above the