Bitcoin Technical Analysis Report 30 July, 2021

• Bitcoin under bearish pressure
• Likely to fall to support level 35000.00

Bitcoin cryptocurrency under the bearish pressure after the price reversed down from the resistance area lying between the key resistance level 41000.00 (which has been reversing the pair from the middle of May), upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp downward impulse from the start of May. The downward reversal from this resistance area stopped the previous impulse wave (3) from the middle of July.

Given the deterioration of the risk sentiment as see across the cryptocurrency markets today, Bitcoin cryptocurrency can be expected to fall further toward the next support level 35000.00 (top of the previous waves (1) and B).

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