Bitcoin price extended its decline below the $30,000 support today and it remains at a risk of a larger decline below the $29,000 support zone. The price is now consolidating losses above $29,250. If bitcoin fails to recover above the $30,000 and $31,500 resistance levels, there is a risk of more losses.
Hourly MACD – The MACD is slowly gaining pace in the bearish zone.
Hourly RSI– The RSI is now well below the 50 level.
Major Support Levels – $29,500, followed by $29,000.
Major Resistance Levels – $30,200, $31,500.
DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.