Bitcoin drifts towards support at $33,000 in steady slide
12 Jul 2021
Bitcoin down 1% on the day
Memories of May’s fireworks in bitcoin are fading but the chart continues to show the unease as it consolidates near the bottom of the yearly range.
In the short-term, keep an eye on $33,000. We’re at the lows of the day at $33,150 and Saturday there was buying at $33,000. A break below could challenge last week’s lows around $32,000.
I tend to think we need to get through the summer before volatility picks up but a report today showed crypto volumes were falling fast.