Bitcoin Price Plunges After Rejection, Here’s Why Bears Aim Fresh Lows

Bitcoin Price Plunges After Rejection, Here’s Why Bears Aim Fresh Lows

Bitcoin price is moving lower from the $30,350 level. BTC is showing bearish signs and might decline further toward the $29,650 and $29,500 support levels.


  • Bitcoin is moving lower below the $30,000 pivot level.

  • The price is trading below $30,000 and the 100 hourly Simple moving average.

  • There is a key bullish trend line forming with support near $29,720 on the hourly chart of the BTC/USD pair (data feed from Kraken).

  • The pair could extend its decline below the $29,500 support zone.

  • Bitcoin Price Turns Red Again


    Bitcoin price attempted a fresh increase above the $30,400 resistance zone. However, BTC struggled to settle clear the $30,350 level and started a fresh decline.


    There was a bearish reaction below the $30,000 support zone and the 100 hourly Simple moving average. The price declined below the 61.8% Fib retracement level of the upward move from the $29,650 swing low to the $30,333 high.


    Bitcoin is trading below $30,000 and the < ..

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