Bitcoin has recently experienced a breakdown below the support level at
30
,000, indicating a bearish move in the market. This breakdown suggests that the price of Bitcoin may continue to decline in the short term.
Based on this breakdown, I expect Bitcoin to potentially experience a rapid decline and retest the resistance level at
31
,000. However, if the price fails to break through this resistance level again, it could signal a continuation of the bearish trend and result in further selling pressure in the market.
In such a scenario, the price of Bitcoin may decline and fall below the key support levels, potentially reaching down to the range of 25 ,000. This could be a significant bearish signal, indicating further downside momentum.
Based on this breakdown, I expect Bitcoin to potentially experience a rapid decline and retest the resistance level at
31
,000. However, if the price fails to break through this resistance level again, it could signal a continuation of the bearish trend and result in further selling pressure in the market. In such a scenario, the price of Bitcoin may decline and fall below the key support levels, potentially reaching down to the range of 25 ,000. This could be a significant bearish signal, indicating further downside momentum.