Urgent :
The price of $BTC has been consolidating for nearly a month and shows no signs of a breakout move. The medium-term trend for BTC is slightly negative, as the currency has broken down through support at $30,700. However, in the long term, the outlook for BTC is more positive, as the currency has been on a gradual upward trend since 2018.
Technical Indicators
The following technical indicators are pointing to a slightly bearish outlook for BTC:
The 200-day moving average is sloping down.
The Relative Strength Index (RSI) is below 50.
The stochastic oscillator is in the oversold range.
Key Levels
The following key levels are to watch for:
Support: $30,000
Resistance: $32,000 #BTC
