Bitcoin bulls must now defend $33K support after 5% daily lossNo price breakout for Bitcoin
Data from Cointelegraph Markets Pro and TradingView tracked a 5% decline in BTC/USD overnight on Wednesday.
As Cointelegraph reported, eyes are now on an area between $32,300 and $33,000 to provide a floor. On Thursday, popular trader Michaël van de Poppe reiterated the need for that zone to hold.
The pair had reversed after reaching nearly $36,700, erasing most of the gains it had sealed in a run-up which began at the weekend.
"Would be nice if Bitcoin creates a higher low here & flips $33K for support to sustain the momentum," he said in his latest Twitter update.
Exchange orderbook data broadly supported the thesis, with buyer interest lined up at an area around $32,000. $37,000 seller resistance remained intact on Binance.
https://cointelegraph.com/news/bitcoin-bulls-must-now-defend-33k-support-after-5-daily-loss