Share this article
Bitcoin Finds Support at $30K; Faces Resistance at $36K
BTC is down about 22% over the past seven days.
Updated Mar 6, 2023, 3:26 p.m. Published Jun 22, 2021, 11:12 a.m.
Make us preferred on Google
The sell-off in bitcoin (BTC) has been stabilizing around $30,000 support since Monday, which could attract short-term buyers. Upside appears limited near the $36,000 resistance level given the near three-month downtrend.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bitcoin was trading around $31,700 at press time and is down about 22% over the past seven days. Sellers remain in control, which could cap upside moves this week.
- The relative strength index (RSI) registered an oversold reading on May 19. Since then, buyers have defended support around $30,000.
- Upside momentum is weak, evidenced by several weeks of consolidation below $41,000 resistance.
- The RSI on the weekly chart is not yet oversold, meaning sellers have not yet capitulated.
- Lower support is seen around $27,000, which is a 61% retracement of the March 2020 low.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Gold tops $5,000 as bitcoin stalls near $87,000 in widening macro-crypto split: Asia Morning Briefing
Bitcoin’s onchain data points to supply overhang and weak participation, while gold’s breakout is priced by markets as a durable macro regime shift.
What to know:
- Gold’s surge above $5,000 an ounce is increasingly seen as a durable regime shift, with investors treating the metal as a persistent hedge against geopolitical risk, central bank demand and a weaker dollar.
- Bitcoin is stuck near $87,000 in a low-conviction market, as on-chain data show older holders selling into rallies, newer buyers absorbing losses and a heavy supply overhang capping moves toward $100,000.
- Derivatives and prediction markets point to continued consolidation in bitcoin and sustained strength in gold, with thin futures volumes, subdued leverage and weak demand for higher-beta crypto assets like ether reinforcing the cautious tone.
Top Stories
