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Bitcoin Pierces Key Support at $ 30,000: Going for $ 20,000?



At this time, the future of bitcoin is taking ahead the important support that it presented at the minimum of the candle of the session on May 19 at $ 30,205.

Technical analysis

Short term

Medium term

Long term

The bitcoin It is clearly piercing the important support that it marked at the lows of the May 19 session when many cryptocurrencies lost 50% in a single day. It seemed that there we could have a definitive support but no, after flirting with him several times in recent days, it has been pierced. And the problem is that We did not find important support until the area of ​​$ 20,000-21,000: the all-time highs of the last major bull cycle, the highs of the end of 2017.

It will not be the first time nor will it be the last that an underlying corrects strongly to support previous all-time highs. as a 'throw back'. What happens is that everything in bitcoin is big, the rises, corrections, bounces, and so on. There is not much to say from a graphical point of view at this point, as after $ 30,000 is drilled, there is nothing until $ 20,000. Above, on the side of resistance, the most immediate is found in the last decreasing maximum (41,335).


Historical daily chart of the future of bitcoin

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