Bitcoin Price Analysis: 30000 Bearishly at Risk - 29 June 2023

Crypto Daily
Crypto Daily

28 Jun 2023 3:15 PM

Bitcoin (BTC/USD) remained on the defensive early in the Asian session as the pair tested the 30000 figure following a fresh round of selling pressure that grew stronger...

  • Bitcoin (BTC/USD) is currently facing selling pressure and testing the 30000 level.
  • Potential areas of support and buying pressure include 29863, 29427, 28886, 28804, 28182, 28096, and 27306.
  • Recent buying pressure was seen around the 30198.14 and 29863.96 levels.
  • The recent high at 31443.67 was a test of an upside price objective associated with buying pressure around 26637.41.
  • Stops were triggered above the 30127.80 level, which was an upside price objective associated with historical buying pressure.
  • Additional upside price objectives include 31737, 32125, and 33569.
  • Technicians are monitoring the 28095.44 area for potential technical support.
  • Moving averages indicate a bullish trend on the 4-hourly chart and a bearish trend on the hourly chart.
  • Technical support is expected around 24440.41, 23270.10, and 22769.39, with resistance expected around 31986.16, 32989.19, and 34658.69.

The article provides a technical analysis of Bitcoin's price movement, indicating selling pressure and potential areas of support and buying pressure. The sentiment is neutral, focusing on the current market conditions and technical indicators.

Go to publisher site

You May Ask

What is the current price level of BTC/USD?What are the potential areas of support and buying pressure?What were the recent buying pressure levels?What are the additional upside price objectives?What are the technical support and resistance levels to watch for?Note: The analysis provided is based on the information given in the input article and does not constitute financial advice.

Suggested Reads