Bitcoin has recovered above the psychological $30,000 level after taking a tumble under the $29,000 support level earlier this morning. The short-term trend in the BTCUSD pair remains bearish while the price trades below the $32,000 resistance level. Technical analysis highlights that traders are likely to continue selling any rallied until the BTCUSD pair has anchored back above the $32,000 level.
The BTCUSD pair is only bullish while trading above the $32,000 level, key resistance is found at the $33,000 and the $35,000 levels.
If the BTCUSD pair trades below the $32,000 level, sellers may test the $30,000 and $29,000 levels.
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