As of Wednesday morning, Bitcoin continued to fluctuate at low levels and is now reported at traded at around 29,850 US dollars. Within 24 hours, Bitcoin was down more than 5%. The price of Bitcoin has fallen by more than 50% since hitting a record high of nearly US$65,000 in mid-April where the cryptocurrency market lost nearly $100 billion in 1 day. The current Bitcoin price spread over the yearly period is 1.43%, down 1.97% from the previous day. From a technical perspective, Bitcoin's daily candle closed bearish for the 4th day in a row, and has been operating below the 30,000 key point for a long time. The market's bearish sentiment is quite strong. Bitcoin candles show a unilateral downward trend. Although there is a short-term support, the indicators do not show strong signals, and the market is still likely to be bearish. Overall, prioritize selling within the fluctuation zone. The deciding point whether to buy or sell is near 30000
Resistance：30000-31000-33200
Support：28800-27700-25000
This material is from Quant Tech Limited and is being posted with permission from Quant Tech Limited. The views expressed in this material are solely those of the author and/or Quant Tech Limited and BTCDana is not endorsing or recommending any investment or trading discussed in the material. Before acting on this material, you should consider whether it is suitable for your circumstances and as necessary, seek professional advice