Share this article
BTC
$79,820.97
+
4.12%ETH
$1,583.91
+
6.99%USDT
$0.9996
+
0.02%XRP
$1.9496
+
10.18%BNB
$562.51
+
4.30%USDC
$0.9999
+
0.00%SOL
$111.28
+
11.19%DOGE
$0.1554
+
12.43%TRX
$0.2342
+
4.14%ADA
$0.6043
+
11.57%LEO
$8.9769
+
0.97%TON
$3.1404
+
4.81%LINK
$11.75
+
9.88%AVAX
$17.44
+
12.83%XLM
$0.2347
+
8.01%HBAR
$0.1624
+
18.33%SUI
$2.0803
+
13.99%SHIB
$0.0₄1140
+
4.50%OM
$6.3234
+
3.92%BCH
$282.54
+
8.85%Sign Up
- Back to menuNews
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menuSponsored
- Back to menu
- Back to menu
- Back to menuResearch
- Back to menuWebinars & Events
- Back to menu
Bitcoin Finds Support at $30K; Faces Resistance at $36K
BTC is down about 22% over the past seven days.
The sell-off in bitcoin (BTC) has been stabilizing around $30,000 support since Monday, which could attract short-term buyers. Upside appears limited near the $36,000 resistance level given the near three-month downtrend.
STORY CONTINUES BELOW
Bitcoin was trading around $31,700 at press time and is down about 22% over the past seven days. Sellers remain in control, which could cap upside moves this week.
- The relative strength index (RSI) registered an oversold reading on May 19. Since then, buyers have defended support around $30,000.
- Upside momentum is weak, evidenced by several weeks of consolidation below $41,000 resistance.
- The RSI on the weekly chart is not yet oversold, meaning sellers have not yet capitulated.
- Lower support is seen around $27,000, which is a 61% retracement of the March 2020 low.
Damanick Dantes
Damanick was a crypto market analyst at CoinDesk where he wrote the daily Market Wrap and provided technical analysis. He is a Chartered Market Technician designation holder and member of the CMT Association. Damanick is also a portfolio strategist and does not invest in digital assets.
