The price of Bitcoin is currently moving higher after breaking the $30,250 resistance. BTC failed to follow the same bullish momentum as Ethereum and climbed above the $30,250 resistance. The current price is trading above the $30,250 and the 100 hourly simple moving average. Immediate resistance is near the $30,750 level, while the first major resistance is near the $31,200 level.

A close above the $31,200 resistance might start another increase and push the price toward the $32,000 level. On the contrary, if there is a downside break and close below the $30,250 support, there could be a downside correction.

The next major support for Bitcoin is near the $30,000 zone or the 100-hourly moving average. Any more losses below this level might push the price toward the $29,000 support zone. Technical indicators such as the MACD and RSI, are currently losing its bullish momentum and this could possibly lead to a downside move.



Other News from Today