Share this article
Bitcoin Declines from $36K Resistance, Could Find Support at $30K
BTC starts July on a negative note, although buyers could return at $30K support.
Updated Mar 6, 2023, 3:06 p.m. Published Jul 1, 2021, 11:21 a.m.
Make us preferred on Google
Bitcoin (BTC) is under pressure after buyers took profits near the $36,000 resistance mark on Tuesday. Lower support is seen at around $30,000, which is the bottom of the monthlong trading range.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The world’s largest cryptocurrency is entering July on a negative note and is down about 4% over the past 24 hours. Bitcoin was trading at around $33,000 at press time.
- The relative strength index (RSI) is not yet oversold on the four-hour chart, which means sellers could remain active toward lower support levels.
- Bitcoin failed to reverse a short-term downtrend over the past two weeks as resistance remains strong at between $36,000 and $40,000.
- The 50-period moving average on the four-hour chart is stabilizing, although the price is attempting to break down, keeping up with a series of lower highs over the past quarter.
- Bitcoin has remained in a consolidation phase since June, although improving momentum could support a relief bounce if buyers defend $30,000 support.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Bitcoin climbs above $89,000 as U.S. dollar tumbles on President Trump's remarks
The president said he isn't concerned about the dollar's recent declines, sending the greenback plunging even lower.
What to know:
- Bitcoin rallied above $89,000 as remarks by President Trump sent the dollar to its lowest level in nearly four years.
- Gold rose to a new record above $5,200 per ounce following the president's comments.
- One analyst is seeing a bullish technical divergence which could send bitcoin back to $95,000 in short order.
Top Stories
