BitcoinNewsPrice Analysis

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

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

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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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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