TA: Bitcoin Struggles Below $35K, Why BTC Could Revisit $30K

TA: Bitcoin Struggles Below $35K, Why BTC Could Revisit $30K


Bitcoin price failed to clear the key $36,000 resistance zone against the US Dollar. BTC is showing a few bearish signs and it could continue lower towards $30,000.

Bitcoin failed to gain momentum above the 36,000 and $36,200 resistance levels. The price is now struggling below $35,000 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $34,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down towards $30,000 as long as it is below $35,000. Bitcoin Price is Showing Bearish Signs

After trading as low as $30,312, bitcoin price started a fresh increase. BTC surpassed the $32,000 and $34,000 resistance levels to move into a positive zone.

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The price even spiked above the $36,000 resistance. However, there was no close above $36,200 and $36,500 (a major hurdle as discussed yesterday). As a result, there was a rejection near

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