Bitcoin (BTC) is under pressure after buyers took profits near the $36,000 resistance mark on Tuesday. Lower support is seen at around $30,000, which is the bottom of the monthlong trading range.
The worldâs largest cryptocurrency is entering July on a negative note and is down about 4% over the past 24 hours. Bitcoin was trading at around $33,000 at press time.
Bitcoin four-hour price chart shows short-term support and resistance levels with RSI.
Source: TradingView
The relative strength index (RSI) is not yet oversold on the four-hour chart, which means sellers could remain active toward lower support levels.
Bitcoin failed to reverse a short-term downtrend over the past two weeks as resistance remains strong at between $36,000 and $40,000.
The 50-period moving average on the four-hour chart is stabilizing, although the price is attempting to break down, keeping up with a series of lower highs over the past quarter.
Bitcoin has remained in a consolidation phase since June, although improving momentum could support a relief bounce if buyers defend $30,000 support. Â
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