BTCUSDT Bitcoin is currently encountering resistance around the
30,550 mark, but the fact that the bulls have not given up much ground indicates that buyers are not in a rush to exit.However, the bears are expected to put up a strong fight and attempt to pull the price below the crucial support level of the 20-day exponential moving average, currently around
28,163. If they succeed, it could lead to increased selling pressure and the BTC/USDT pair may drop to the support at 
25,250.Alternatively, if the price manages to continue moving up or bounces back from the 20-day EMA, it will indicate strong demand at lower levels, increasing the possibility of a rally to
32,400. However, this level is likely to pose significant resistance.Let me know what you think!
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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.