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The market has seen a slight correction as some coins have returned to the red.
BTC/USD
Bitcoin (BTC) price is down 1% in the last 24 hours.
Bitcoin (BTC) price is on its way to local support at $30,315 on the hourly chart. If buyers fail to seize the initiative, the breakout may be a prerequisite for a sharp drop into the $30,100-$30,200 zone.
On the daily timeframe, Bitcoin (BTC) price re-tested the resistance at $30,614. At the moment, neither buyers nor sellers control the situation.
Although the price is above the important $30,000 mark, there is no need to worry. However, if there is a breakout, the decline could continue to the support at $29,380.
From a medium-term perspective, Bitcoin (BTC) price has been fixing above the resistance at $29,380. However, bulls might need more time to gather energy for another move. In this case, sideways trading in the $29,500-$30,500 range is the more likely scenario for the next few days.
Bitcoin is trading at $30,368 at press time.
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