BitcoinNewsPrice Analysis

Is Bitcoin Price Hinting Towards Deeper Declines? Will It Breach the Critical Support At $28k? Fear Grips the Market!

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After failing to hold on to the $32k pivot level, Bitcoin Price has lost its bullish impetus, signaling a collapse. After just breaking the $30k support level, it is now on a bearish trend. The price is continuing to fall, with no signs of reversing, and it may soon hit the $28,000 barrier. As of this writing, BTC has a dominance level of 47.05 percent, up 0.77 percent.

Bitcoin is expected to drop from $30k to $20k, according to popular belief. Bitcoin was trading at $32600 when the Death Cross happened, and it is currently trading at $29,674 as of this writing. Since the occurrence of the Death Cross, it has dropped by more than 7%. As Bitcoin falls below $30K, the Crypto Fear & Greed Index drops to the ‘Extreme Fear‘ area.

Also Read : Bitcoin Price Plunges Below $30K! A Bear Market Validated? Here are the Next Support levels

Bitcoin Price Hinting

BTC Price For the Day Ahead:

The price of bitcoin continues to fall. After falling below the $31,200 support level, it is currently trading below the major and critical $30k levels. Before hitting the lows, it corrected a few points over the $30,500 mark. 

It fell from a swing high of $31,901 to a low of $30,445 after rejecting numerous significant support levels, and its price is now at $30,445 

Near the $31,964 mark, there is immediate upside resistance (the recent breakdown zone). Then came $33,137 and $33,856. On the downside, $29,353 is the first level of support, followed by $28,181.

Here are a few of the popular analysts’ perspectives and opinions on Bitcoin dropping below $30,000, breaching below the psychological trading range it has held for the past few weeks.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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