During the past week, BTC faced multiple breakdowns below the crucial psychological mark of $30K. This also suggests that it has strong support zones below the mentioned level which is providing the bounceback at regular intervals.
However, during the rangebound momentum, EMA-20 suffered a negative2 crossover against EMA-50 and EMA-100, which could be a negative signal. The RSI level also fell drastically from the overbought region while currently residing around 40.
On the Fibonacci retracement table, the price level needs to break out above 0.236 FIB level in order to retest the crucial mark of $30K again.
Overall, resistance levels can be placed around $30K and $32K, while the support levels can be placed at $28K and $26K, respectively.
However, during the rangebound momentum, EMA-20 suffered a negative2 crossover against EMA-50 and EMA-100, which could be a negative signal. The RSI level also fell drastically from the overbought region while currently residing around 40.
On the Fibonacci retracement table, the price level needs to break out above 0.236 FIB level in order to retest the crucial mark of $30K again.
Overall, resistance levels can be placed around $30K and $32K, while the support levels can be placed at $28K and $26K, respectively.