Bitcoin survives the weekend but the pressure is still on
19 Jul 2021
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Bitcoin stays in a precarious spot to start the new week
Essentially, nothing has changed for Bitcoin since my last post here.
It is down 1.5% on the day, keeping below $32,000 but added downside pressure is still hard to come by as the $30,000 level still holds for the time being.
The series of lower highs, lower lows continues to dictate that sellers are in control and even though Bitcoin may have survived the weekend, the fight is far from over.
The pressure is still on as price holds close to the lows for the day with sellers looking for a nudge towards testing the $30,000 mark. That will be a key test and one to watch in case it materialises in the sessions/days ahead for Bitcoin.