06 Jun 2022
Bitcoin resting just above the $29k support
Bitcoin managed to break through the $30,500 resistance but was quickly slammed down and is now resting just above the $29k support.
After breaking the $30,500 resistance, bitcoin has found a new resistance level at $32k, where it traded for two days before falling back below $30k.Looking further up, we see another resistance level at $34,500, which served as a strong support level earlier this year.On the downside, $29k has served as strong support for bitcoin since the beginning of May.If bitcoin is not able to hold the $29k support, $25,500 might be the next support level to look out for, as it marked the bottom of bitcoin’s crash at the beginning of May.