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Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Fawpac2 on January 25, 2021, 08:02:03 PM

Title: Bitcoin Facing Uphill Task, Why BTC Could Drop To $30K Again
Post by: Fawpac2 on January 25, 2021, 08:02:03 PM

Bitcoin price is showing recovering signs above $32,000 against the US Dollar. BTC is facing an uphill task at $34,000 and it is likely to continue lower towards $30,000.

Bitcoin is correcting higher from $28,865 and it is trading above the $32,000 resistance.
The price is facing a strong resistance near $34,000 and the 100 simple moving average (4-hours).
There is a short-term contracting triangle forming with resistance near $33,000 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair could face a strong resistance near the $33,800 and $34,000 levels in the near term.
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