The price of Bitcoin yesterday formed a new higher high at 32415 dollars. A new pullback quickly followed this to $ 31,450, and we are now consolidating in the $ 31,600 zone. The previous four days were very bullish as the price rose from $ 28,500 to $ 32,415. Today is a day for consolidation and a certain accumulation, and for the price of bitcoin, it is important to stay above the $ 31,000 level. Additional support at our current level is the MA20 and MA50 moving averages. For the bullish option, we need positive consolidation and a return on prices above $ 32,000. Then, with the continuation of the bullish impulse, the price could continue towards $ 32,500, then the $ 33,000 level. For the bearish option, we need negative consolidation and new support testing at $ 31,000. Break prices below would increase bearish pressure, which would lead to a further drop in prices. First down to $ 30,000 support, and then to the May support zone at $ 29,000 prices.
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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.