MNBCs are coming soon – If the central bankers are not lovers of Bitcoin and altcoins, they find an interest in their underlying technologies. The digital euro is in full test, and the first returns are encouraging for the Banque de France. For its part, the price of Bitcoin had a rather calm weekend. Indeed, the price continues to move below $30,000. After a month of range, could the price be decided this week?
Bitcoin price stagnates in 24 hours
BTC experienced a very quiet weekend like in the last few weeks. Currently, the Bitcoin price is moving under $30,000. This week, the sellers could continue to put pressure on the price. The price of BTC stagnates in 24 hours :
In one week, the price shows a 1.7% decrease. In one month, the course 3% drop. For its part, the BTC/ETH pair stagnates in 24 hoursand displays a 1.3% increase in one week. There volatility is low on BTC, but the situation could quickly change.
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Bitcoin Price Remains Below Weekly Resistance at $31,500
For the moment, the BTC is done dismiss at the level of resistance at $31,500. Also, we can see that the price failed to close above the peak at $30,950. Whatever happens, you will have to restart the level at $31,500 as a support to hope to see the price of BTC again at $38,000 :
In the event of a fall, the price could find a support the level of institutional bias (EMA 9/EMA 18) bullish around $28,500. For the moment, all the returns to the level of the 9 and 18 moving averages have allowed the course to bounce. The RSI is moving above the bullish trendlineit should continue to show bottoms and ascending tops.
Bitcoin Price Holds Support At $29,800
Bitcoin price is in a range between support at $29,800 and resistance at $31,500. The bracket to $29,800 holds up for now. However, by dint of being tested, the support weakens :
Buyers should continue to defend support, and push to close price above the last high marked at $30,415. A close of this kind would allow the price to mark a double bottom at the bottom of the row. The course must repeat the level at $30,500 as support. The RSI remains strong. It evolves above the bearish trendline, and it continues to show ascending lows and highs. We should continue on the dynamic by developing above 57.
Bitcoin price has been experiencing low volatility for the past few weeks, and it remains stuck below $31,500. The buyers manage to defend the support level at $29,800 in 4H, but it would take a sharper bounce to avoid a new wave of declines. Indeed, if the support at $29,800 gives way, the price could return to the level of the next support at $28,500.
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