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. 1 min read
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.
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.
Más para ti
CNBC reported Tuesday that Musk is discussing a merger between Tesla and SpaceX that would tie his tech empire closer together and instantly create the world’s fifth-largest corporate bitcoin treasury, worth $3.3 billion.
Lo que debes saber:
- Elon Musk is exploring a potential merger of Tesla and SpaceX, a move that would deepen operational overlap in areas such as power infrastructure and AI-related computing.
- A combined Tesla-SpaceX entity would control about 30,221 bitcoin, worth roughly $3.3 billion, making it the fifth-largest public corporate holder of the cryptocurrency.
Top Stories
