The Bitcoin price is experiencing a downside correction after facing resistance around $30,000. It is currently trading below $28,500 and may drop further toward $28,000 or the 100-hourly Simple Moving Average (SMA) before the bulls attempt to push it higher.
A key bullish trend line was broken with support near $28,400. The immediate resistance levels are around $28,550 and $28,800, while the main resistance is near $29,000.
A clear break above $29,000 could lead to a larger increase towards $29,500 and potentially $30,000. On the downside, if Bitcoin fails to rise above the $28,550 resistance, it may find support near $28,150, $28,000, and $27,660. The MACD is indicating a bearish trend, and the RSI is below the 50 level.
Source: NEWSBTC
Bitcoin Price Dips Below $28,500, Bulls Await Chance for Fresh Surge to $29K
