Famous Analyst Announced The Levels That Bitcoin Will Drop!
The famous analyst announced the levels that Bitcoin will drop. Aayush Jindal said that the price of Bitcoin will drop to the level of $ 30,000.
Bitcoin prices are now recovering above the US $ 32,000 level. The famous analyst announced the levels that Bitcoin will fall. Aayush Jindal said in a statement that the bitcoin price is facing a difficult task and is likely to continue to pull towards the $ 30,000 level.
Bitcoin price rises to the level of $ 28,865 and is trading above the $ 32,000 resistance.
The price is struggling with strong resistance near $ 34k.
On the 4-hour chart of the BTC/USD pair, there is a short-term contract triangle with resistance close to $ 33k.
According to Jindal, the pair could face strong resistance near $ 33,800 and $ 34,000 in the near term.
Bitcoin Will Be Drawn To The Level Of $ 30K
Bitcoin price recently fell sharply below the $ 35k and $ 34k support levels against the USD. Previously, the BTC/USD parity dropped even below the $ 30k support level, well below the 100 simple moving average. Before the price started to recover, there was a low of around $ 28,800. Bitcoin broke the $ 30,000 level, then BTC hit the $ 31,500 level.
Testing of the 50 percent Fib retracement level of the momentum turning down was also done. There is also a short-term contract triangle with resistance near $ 33k on the 4-hour chart of the BTC / USD pair. According to the analyst, if there is a triangle break, the price could face hurdles near $ 33,800 and $ 34,000. In the same chart, according to Jindal, there is also an important regression trend line formed around 34,500 dollars.
What Levels Will Bitcoin Price Test In The Short Term?
Bitcoin is now fairly close to the 61.8 percent retracement level of the drop. A close above the $ 34,000 and $ 34,500 resistance levels could open the way for a larger rise, according to the analyst. Another major obstacle, according to the analyst, is close to the $ 38,000 level. If Bitcoin fails above the $ 33,500 and $ 34,000 resistance levels, there is a risk of another downside move.
According to veteran analyst Aayush Jindal, the initial support on the negative side is around $ 31,800. On the other hand, the analyst said that a clear break below the support levels of $ 31,800 and $ 31,500 could result in a decline towards the $ 30,000 support zone in the near term. However, more losses may require a test of $ 28,800.
Current Outlook of Bitcoin with Technical Indicators
4-hour MACD: The MACD for the BTC/USD pair is slowly rising in the bullish zone.
4 hours RSI (Relative Strength Index): The RSI for BTC/USD is gaining momentum towards the 50 level.
Major Support Level: $ 30,000.
Major Resistance Level: $ 34,000 USD.