As it is clear in the chart, there was a big significant uptrend, and after that price started to rest and a downside retrace which was a huge drop actually.
Currently, price has approached to the strong support zone around 30K and is struggling to break it.
Price is at a very risky level and if it breaks it and closes a bearish candle below it, we can not see good future days for BTC and there is no support level or any barrier ahead for the price and it can drop to 20K.
On the other hand, if price fails to break the support level and will be pushed to the upside, we should wait for the red descending trend line to be broken out and then we can expect a rise on BTC.
What is your outlook? Feel free to share your opinion and ideas in the comments.
Currently, price has approached to the strong support zone around 30K and is struggling to break it.
Price is at a very risky level and if it breaks it and closes a bearish candle below it, we can not see good future days for BTC and there is no support level or any barrier ahead for the price and it can drop to 20K.
On the other hand, if price fails to break the support level and will be pushed to the upside, we should wait for the red descending trend line to be broken out and then we can expect a rise on BTC.
What is your outlook? Feel free to share your opinion and ideas in the comments.
