Bitcoin has recently slowed its historic weekly consecutive decline, testing last summer's support low @ $31.7k.
While BTC may find daily support in near-term at this level, closing daily candles above and building into weekly support level would be the beginning of a reversal against the broader markets' risk-off backdrop.
Bitcoin remains firmly within a descending channel, while volume dissipates.
If unable to flip $31.7k into support, key levels below at $6k intervals:
$25k
$19k
$14k
While BTC may find daily support in near-term at this level, closing daily candles above and building into weekly support level would be the beginning of a reversal against the broader markets' risk-off backdrop.
Bitcoin remains firmly within a descending channel, while volume dissipates.
If unable to flip $31.7k into support, key levels below at $6k intervals:
$25k
$19k
$14k
