Price Retesting $30,000 Range with Potential for Growth
Updated
After reaching the resistance level at the upper boundary of the range channel, Bitcoin experienced a negative response and broke the short-term upward trend line. Consequently, we anticipate a retest of the $30,000 range for the price of Bitcoin. Two short-term support levels have been identified: the first support is positioned at $30,120, while the second support falls within the range of $29,700 to $29,750. As previously mentioned, our expectation remains that Bitcoin's direction will continue to move upwards. Therefore, if indications of a positive response to the support levels are observed, Bitcoin has the potential to rise to the $32,000 range by surpassing the upper boundary of the range channel.
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