Can BTC reach the $31,000 mark soon? NickSzabo4 alistairmilne Maybemore_DC WhalePanda
The rate of Bitcoin has declined by 1% over the last 24 hours.
On the hourly chart, the rate of Bitcoin is on the way to the local support at $30,315. If buyers cannot seize the initiative, the breakout can be a prerequisite for a sharp drop to the $30,100-$30,200 zone. On the daily time frame, the rate of Bitcoin has once again tested the resistance at $30,614. At the moment, neither buyers nor sellers are controlling the situation.While the rate is above the vital $30,000 mark, there is nothing to worry about. However, if a breakout of it happens, the drop may continue to the support at $29,380.
From the midterm point of view, the rate of Bitcoin has fixed above the resistance at $29,380. However, bulls might need more time to accumulate energy for a further move. In this case, sideways trading in the area of $29,500-$30,500 is the more likely scenario for the next days.
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