Share this article
Bitcoin Trending Lower With Possible Break of $30K Support
If $30,000 is broken, the next level of support is seen around $27,000.
Updated Mar 6, 2023, 2:49 p.m. Published Jul 19, 2021, 11:26 a.m.
Make us preferred on Google
Bitcoin (BTC) is stuck in a month-long downtrend as traders experienced choppy conditions over the past few days. A break below $30,000 is likely given the loss of upside momentum and strong resistance on the charts.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The cryptocurrency was trading around $31,000 at press time and is down about 5% over the past week.
- The 50-period moving average on the four-hour chart is sloping downwards, which indicates a declining trend over the past month.
- Immediate resistance is seen around $32,000 and $34,000, which could limit upside if buyers return at support.
- The relative strength index (RSI) is not yet oversold on the four-hour and daily charts. This means sellers are in control as buyers await lower support levels.
- If $30,000 is broken, the next level of support is seen around $27,000, which is a 60% retracement from the March 2020 price low.
- Bitcoin’s current sideways trading is similar to the June-November 2018 range between $5,900 and $7,400, which preceded further selling as the bear market advanced.
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
Fed rates decision, Tesla earnings, Bybit roadmap: Crypto Week Ahead
Your look at what's coming in the week starting Jan. 26.
What to know:
You are reading Crypto Week Ahead: a comprehensive list of what's coming up in the world of cryptocurrencies and blockchain in the coming days, as well as the major macroeconomic events that will influence digital asset markets. For an updated daily email reminder of what's expected, click here to sign up for Crypto Daybook Americas. You won't want to start your day without it.
Top Stories
