Bitcoin Key Level - Support v. Resistance
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:
25K19k
14K
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