Bitcoin (BTC) is trading lower after a brief 5% bounce on Sunday. The cryptocurrency stalled around $35,000 resistance and could find support around $30,000, which is the bottom of a month-long trading range.
The relative strength index (RSI) on the four-hour chart is declining near overbought territory. This is similar to last week, which preceded a near 15% price drop. Buyers were able to defend $30,000 support last week, registering a higher low from the June 22 shakeout. This means sideways trading could persist until a decisive breakout above $40,000 or breakdown below $30,000 occurs.
Bitcoin is still in relief mode following the May sell-off and is up about 7% over the past week, although upside appears limited below $40,000 given the intermediate-term downtrend.
Bitcoin Meets Resistance at $35K; Support at $30K, CoinDesk, Jun 28
- GBPUSD reversed from strong support level 1.2665 - Likely to rise to resistance level…
- USDCAD broke resistance level 1.3950 - Likely to rise to resistance level 1.4050 USDCAD…
The US dollar has strengthened, reaching the upper boundary of its trading range. The British…
Cryptocurrencies continued to surge, pushing the total cap to $3 trillion. Bitcoin has gained nearly…
- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
This website uses cookies