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.
Source: Tradingview (Coinbase)
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.
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