Bitcoin bulls will want to keep $ 30K but it won’t be easy

Bitcoin bulls will want to keep $ 30K but it won’t be easy

Bitcoin is currently still above $ 30K and everyone expects a slight cooling of the market.


4 Jan 2021 , 12:07 @ CRYPTOSCARFACE

Bitcoin bulls will want to keep $ 30K but it won’t be easy

Bitcoin is currently still above $ 30K and everyone expects a slight cooling of the market.

The Bitcoin market is currently characterized by exponential growth, so it is very important to monitor whether the bulls can defend this price range.

What we are currently seeing on Bitcoin is not only euphoric but also of great concern. These concerns are linked in particular to what area traders will be able to see it as support, which will hold them even in difficult moments.

Precisely the fact that Bitcoin managed to increase the price several times in a short time meant that the bulls did not have time to clearly identify and retrospectively test the functionality of the support zones.

At present, we have the following data related to the technical analysis:

  • Probable temporary support at 27K (determined by MA100)
  • Another confirmed support at $ 22.5K
  • Key support at $ 19.5K
  • Current resistance at $ 35K

Read also: Exactly ten years ago, BTC was worth $ 0.29

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