We have enough factors to believe that BTC will break the longtime support level of 30k.
- The market sentiment is bearish.
- The exchange inflows are on the rise.
- Resistance are not being tested enough unlike the support levels.
- The volume of trading for the last couple of weeks has been low, indicating a lack of interest from bulls.
- BTC made 3 lower highs and lower lows, indicating the end of a bullish trend.
We posted this on our group last night, and it has already started to play out just as expected.
We will revisit it once the price hits 30k to see if it bounce up one more time or break it down.
- The market sentiment is bearish.
- The exchange inflows are on the rise.
- Resistance are not being tested enough unlike the support levels.
- The volume of trading for the last couple of weeks has been low, indicating a lack of interest from bulls.
- BTC made 3 lower highs and lower lows, indicating the end of a bullish trend.
We posted this on our group last night, and it has already started to play out just as expected.
We will revisit it once the price hits 30k to see if it bounce up one more time or break it down.