The past week for Bitcoin was a challenging one as the price level broke below the crucial level of $30K. Since then, the world’s largest cryptocurrency is struggling between the range of $29,000 to $30,000.
On the Fibonacci retracement table, BTC is facing a strong resistance zone above the 0.382FIB level. The support zone lies around the price level of $29,000.
Considering technical indicators, the RSI level is showcasing positive nature while residing at 59.55.
Overall, the resistance level can be placed at $30K and $32K, respectively. On the other hand, the support level can be placed at
29K
and $27K.
On the Fibonacci retracement table, BTC is facing a strong resistance zone above the 0.382FIB level. The support zone lies around the price level of $29,000.
Considering technical indicators, the RSI level is showcasing positive nature while residing at 59.55.
Overall, the resistance level can be placed at $30K and $32K, respectively. On the other hand, the support level can be placed at
29K
and $27K.