Bitcoin is trading at a crucial support junction from which failing to hold will lead to a price crash up to $22,000.
The Bitcoin RSI on the weekly chart is still not in the oversold territory meaning there could be more pain ahead.
Earlier this week, the world’s largest cryptocurrency Bitcoin (BTC) witnessed a major crash with its price tanking under $30,000 for the first time in 10 months since July 2021. However, Bitcoin (BTC) did manage to recover partially but continues to show weakness.
Read More: Why Wednesday’s U.S. CPI inflation numbers could be a make or break event for Bitcoin (BTC)As of press time, Bitcoin is trading 4 percent down at a crucial support level of $30,505. Later today, the United States shall be announcing the inflation data for April 2022. This could be a potentially deciding factor for the future price movement of Bitcoin and the broader crypto market.
Crypto analyst Lark Davis explains that Bitcoin is currently trading at crucial support levels. Duri
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