empty
 
 
09.05.2022 05:43 PM
Bitcoin approaches major support at $30,000.

Bitcoin remains in a short-term bearish trend as price continues making lower lows and lower highs. Recently price broke out and below the trading range it was in, by failing to hold above $38,000. Price is now heading towards our next key support level at $30,000.

This image is no longer relevant

Green lines- support levels

Bitcoin has broken through key medium-term support levels and is now approaching the major low area around $30,000. There is no sign of a reversal. Bears remain in control of the trend. $30,000 is a major support area and I expect it to be tested. Failure to hold above $30,000 will lead Bitcoin price much lower. Bulls need to recapture $40,000 in order to reclaim control of the trend.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback