Bitcoin (Bitcoin) After a rejection above $35,000 triggered a rout of familiar support, it fell sharply on June 25.
Bitcoin rebounds to $30,000
The currency pair hit a local high of US$35,400 overnight, and then suddenly reversed its trajectory and fell below US$33,000.
For popular trader Crypto Ed, the situation is similar to what happened after BTC/USD rebounded to the $30,000 support level for the first time last month.
“Currently, the sluggish PA reminds me of a similar situation a few weeks ago… I thought we did 1-5 and started the next cycle, but after another top, BTC went deeper Fix,” he comment On the attached chart.
“Think we might get the same result here.”
This will allow Bitcoin to re-challenge the $20,000 corridor it briefly broke a few days ago.
As Cointelegraph ReportAfter the BTC/USD failed to reach the $37,000 target before the most recent rejection, the sentiment of many traders is still biased towards the cautious side.A possibility New low It’s far from over.
BTC buying interest still exists
Nevertheless, signs of potential confidence still exist.
Friday, again El Salvador and its Bitcoin law In the spotlight After President Nayib Bukele announced that every eligible citizen will receive $30 in BTC for free to download his wallet.
At the same time, institutions are bullish Purpose Bitcoin ETF, Continue to increase its assets under management during the entire price decline period.
At the same time, altcoins are flat, and no single asset can break through the established trading zone.