After failing to test the minor resistance area, Bitcoin (BTC) has moved towards a lower support point.
BTC, which has not been able to exceed $ 29,700 for days, and has been in the short price range, was rejected from minor resistance. BTC, where sellers took the ropes by failing to exceed $ 29,262, is moving towards $ 28,896. Although the market is calm, the leader of the sector, which is slowly losing value, increases the level of fear among investors. What about the current situation for BTC?
Bitcoin (BTC) chart analysis
After failing to test $29,700, BTC retreated to $29,100. If the leader of cryptocurrencies, which has broken an important support level for the moment, cannot break above $ 29,262, this decline may become even more severe. The support points that can be followed on the current chart of BTC are 28,896 – 28,406 – 28,039 and 27,467 dollars, respectively.
The emergence of positive news about the market or the volume exceeding $ 29,700 will strengthen the hand of buyers in BTC. In such a scenario, the resistance points to follow are 29,262 – 29.698 – 30,303 – 30,808 and 31.396 dollars, respectively. In particular, the price structure at $29,500 – $29,700 seems to be decisive for the short term.
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