Bitcoin About to Break-Down or Break-Out – BTC Price Analysis.

Share This Post

Bitcoin has been Trading around $33,000 – $35,000 recently and has not shown any significant price movements in past couple weeks. While Bears seems to be taking over the bull as the multiple price decline from $34500 – $35000.

According to Above Chart, the trending line shows the downtrend, which indicates that the price must hold the price level of around $33,000-$34,500 to break out the price.

Bitcoin Price moving below $33,000 can lead to the next support level of around $30,000 – $30,500 , while the next resistance levels are at $38,000 – $40,000 incase Bitcoin holds and breaks out of the trend line.

Overall market sentiments are nuetral as traders and investors wait for the next bitcoin move either upwards or downwards.