As of Sunday, Bitcoin (BTC/USD) appears confined within a slim trading bracket, with resistance and support set at around $30,000 and $29,000, respectively.
Key technical indices like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) suggest a bearish outlook for Bitcoin at this stage.
A glance at the Tradingview Bitcoin price graph reveals a sustained downward trend, with the digital currency reaching a level of $29,100.
This bearish momentum might persist, potentially propelling Bitcoin's price even lower, perhaps toward the $28,700 level.
It's plausible that Bitcoin could find some support at the $28,700 level amidst this continued downward movement.
Should Bitcoin break through this support level, the next probable target for its price could be the $28,200 level.
Key technical indices like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) suggest a bearish outlook for Bitcoin at this stage.
A glance at the Tradingview Bitcoin price graph reveals a sustained downward trend, with the digital currency reaching a level of $29,100.
This bearish momentum might persist, potentially propelling Bitcoin's price even lower, perhaps toward the $28,700 level.
It's plausible that Bitcoin could find some support at the $28,700 level amidst this continued downward movement.
Should Bitcoin break through this support level, the next probable target for its price could be the $28,200 level.
