After failing to hold on to the $32k pivot level, Bitcoin Price has lost its bullish impetus, signaling a collapse. After just breaking the $30k support level, it is now on a bearish trend. The price is continuing to fall, with no signs of reversing, and it may soon hit the $28,000 barrier. As of this writing, BTC has a dominance level of 47.05 percent, up 0.77 percent.
Bitcoin is expected to drop from $30k to $20k, according to popular belief. Bitcoin was trading at $32600 when the Death Cross happened, and it is currently trading at $29,674 as of this writing. Since the occurrence of the Death Cross, it has dropped by more than 7%. As Bitcoin falls below $30K, the Crypto Fear & Greed Index drops to the ‘Extreme Fear‘ area.
Also Read : Bitcoin Price Plunges Below $30K! A Bear Market Validated? Here are the Next Support levels
BTC Price For the Day Ahead:
The price of bitcoin continues to fall. After falling below the $31,200 support level, it is currently trading below the major and critical $30k levels. Before hitting the lows, it corrected a few points over the $30,500 mark.
It fell from a swing high of $31,901 to a low of $30,445 after rejecting numerous significant support levels, and its price is now at $30,445
Near the $31,964 mark, there is immediate upside resistance (the recent breakdown zone). Then came $33,137 and $33,856. On the downside, $29,353 is the first level of support, followed by $28,181.
Here are a few of the popular analysts’ perspectives and opinions on Bitcoin dropping below $30,000, breaching below the psychological trading range it has held for the past few weeks.
Rejects $32.3K, Rejects $31K, and now at the next support zone.
No real run of volume yet, through which the liquidity tap should still happen or we'll see a test at $24K for #Bitcoin. pic.twitter.com/wAHUNFV3aF
Being bullish or bearish at $30k can make a big difference
$25,000 per Bitcoin is a clear possibility.
Whenever #BTC Bulls get euphoric, it's usually a good time to critically question such sentiment
Same goes for bearish sentiment
Whenever $BTC Bears are experiencing Bearish Euphoria, it's usually a good time to critically question such sentiment#Crypto #Bitcoin
Source: Read Full Article