Share this article
Bitcoin Struggles Below $30K; Next Support at $27K
Bitcoin is down 5% over the past 24 hours.
Updated Mar 6, 2023, 3:26 p.m. Published Jul 20, 2021, 11:17 a.m.
Bitcoin (BTC) sellers were active during Asia hours as the world’s largest cryptocurrency dipped below $30,000 for the first time in four weeks. The next level of support is seen at $27,000, which is a 60% retracement of the March 2020 low.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Intraday charts appear oversold, which could stabilize some selling pressure. However, upside appears limited below $34,000 given strong overhead resistance.
Bitcoin was trading around $29,600 at press time and is down 5% over the past 24 hours.
- The relative strength index (RSI) on the daily chart is approaching oversold levels. The bullish divergence, defined by higher lows in the RSI from May 19, failed to encourage buying beyond the $36,000 resistance level.
- Bitcoin remains in an intermediate-term downtrend which began in April and is seen by the downward sloping 50-day moving average.
- The weekly chart is not yet oversold, which means sellers are in control as upside momentum fades.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Mais para você
Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
O que saber:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
Top Stories
