Bitcoin (BTC) failed to hold above $30,000 after the July 20 Wall Street open, with one analyst forecasting a return to range lows.

BTC price sinks through $30,000

Data from Cointelegraph Markets Pro and TradingView tracked weak BTC price action after a rejection at the 21-day simple moving average (SMA).

Sitting at $30,400, that SMA provided the day’s high for Bitcoin, with the market then retracing its intraday progress entirely.

Reacting to the market action, Michaël van de Poppe, founder and CEO of trading firm Eight, warned that lower levels could well come next.

“Not breaking the crucial area, seems like we’re going to have another sweep of the low for Bitcoin,” he told his Twitter followers.

Popular trader Daan Crypto Trades added that volatility could return thanks to rising open interest.

Open Interest rising sharply near these levels.

Likely more volatility ahead for #Bitcoin.

Stay safe pic.twitter.com/GqUnaH20Ha

— Daan Crypto Trades (@DaanCrypto) July 20, 2023

“#Bitcoin Has been

Go to Source to See Full Article
Author: William Suberg

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details