Bitcoin has recently experienced a breakdown below the support level at 
30,000, indicating a bearish move in the market. This breakdown suggests that the price of Bitcoin may continue to decline in the short term.
Based on this breakdown, I expect Bitcoin to potentially experience a rapid decline and retest the resistance level at
31,000. However, if the price fails to break through this resistance level again, it could signal a continuation of the bearish trend and result in further selling pressure in the market.
In such a scenario, the price of Bitcoin may decline and fall below the key support levels, potentially reaching down to the range of
25,000. This could be a significant bearish signal, indicating further downside momentum.
30,000, indicating a bearish move in the market. This breakdown suggests that the price of Bitcoin may continue to decline in the short term.Based on this breakdown, I expect Bitcoin to potentially experience a rapid decline and retest the resistance level at
31,000. However, if the price fails to break through this resistance level again, it could signal a continuation of the bearish trend and result in further selling pressure in the market.In such a scenario, the price of Bitcoin may decline and fall below the key support levels, potentially reaching down to the range of
25,000. This could be a significant bearish signal, indicating further downside momentum.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.