The price of bitcoin has been moving sideways for the sixth day. We can see that the volume has decreased, and bitcoin today ranges between 29500-30700 dollars. There is more pressure on the lower support zone, and I would not be surprised if we saw a breakthrough below this support. Should that happen, we seek first support at $ 29,000. With increased bearish pressure, a further drop in prices could occur. Potential support levels are $ 28,000, $ 27,000, $ 26,000. Our May low was at $ 23,900. For the bullish option, we need to break prices above $ 31,500. After that, we can expect a further recovery of bitcoin. Our potential bullish targets are $ 32,000, $ 32,600, $ 33,620, $ 35,000.
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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.