Bitcoin price is moving lower from the $29,500 zone. BTC is showing bearish signs and might decline further below the $29,000 support zone.
Bitcoin is gaining bearish momentum below the $29,500 support.
The price is trading below $29,500 and the 100 hourly Simple moving average.
There is a connecting bearish trend line forming with resistance near $29,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could continue to move down if it remains below $30,000 for a long time.
Bitcoin Price Trims Gains
Bitcoin price failed to settle above the $30,000 resistance zone. BTC started yet another decline below the $29,650 and $29,500 levels to move into a bearish zone.
It tested the $29,100 support zone. A low is formed near $29,100 and the price is now consolidating losses. There was a minor upside correction above the $29,250 resistance zone. It cleared the 23.6% Fib retracement level of the downward move from the $29,694 swing high to the $29,100 low.
Bitcoin is now
We współpracy z: https://www.newsbtc.com/analysis/btc/bitcoin-price-grinds-lower-29k/
