Share this article
Bitcoin Declines Within Range; Could Find Support at $30K
Bitcoin buyers are in profit-taking mode given strong overhead resistance.
Updated Mar 6, 2023, 2:57 p.m. Published Jul 2, 2021, 11:26 a.m.
Bitcoin (BTC) selling continued during Asia hours as buyers failed to hold initial support at $34,000. Lower support is seen at $30,000, which could stabilize the current sell-off.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The downtrend since April has limited price recoveries and kept bitcoin in a tight range between $30,000 and $40,000 over the past month. However, momentum signals suggest selling pressure has weakened since the May correction, which could keep buyers active at support.
Bitcoin was trading around $32,000 at press time and is up about 4% over the past week.
- The relative strength index (RSI) on the daily chart registered a series of higher lows since May 19. This indicates a bullish divergence which could stabilize the intermediate term downtrend in price.
- Typically, a bullish divergence precedes a price bounce. It’s possible that bitcoin’s 20% price rise from the June 22 shakeout low around $29,000 completed the divergence signal.
- Bitcoin will need to break above the 50-day moving average around $37,000 to encourage further upside beyond $40,000.
- For now, buyers continue to take profits given strong overhead resistance on the chart.
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.
More For You
Coinbase deepens India presence after approval of CoinDCX deal
The approval follows a challenging year for CoinDCX which included a significant security breach, though customer funds remained safe.
What to know:
- India's competition regulator has approved Coinbase's acquisition of a minority stake in CoinDCX, enhancing its presence in the Indian crypto market.
- The approval follows a challenging year for CoinDCX, including a significant security breach, though customer funds remained safe.
- Coinbase is renewing its focus on India, resuming user registrations and planning to introduce a rupee on-ramp in 2026.
Top Stories
