Coinidol.com: Bitcoin Price Continues Its Slide

The price of Bitcoin (BTC) has remained above the $72,000 support level since May 28.

For the past five days, the cryptocurrency has been range-bound, staying above the $72,000 support and below the $75,000 high.

Key supply zones: $120,000, $125,000, $130,000

Key demand zones: $80,000, $75,000, $70,000

The 21-day and 50-day SMAs, which were previously rising, are now declining, and the cryptocurrency price has dropped below it. The 21-day and 50-day moving average lines have fallen sharply, indicating a downtrend on the 4-hour chart. Long candlestick tails pierce through $73,000, signalling significant buying pressure at the current support level.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.