Bitcoin (BTC/USD) Held firm at the $30,000 Demand Level 

The last week’s astronomical price rise from the $25,071 demand level into the $30,000 price zone has encouraged many bulls to hop on board. This has significantly minimized the price retracement action as the support level at $30,000 strengthens. The market will likely consolidate above this price level for a while before finding a clear direction.

Bitcoin Market Data

• BTC/USD Price Now: $30,230.71
• BTC/USD Market Cap: $586,696,378,770
• BTC/USD Circulating Supply: 19,412,900 BTC
• BTC/USD Total Supply: 19,412,900
• BTC/USD CoinMarketCap Ranking: #1

Key Levels

• Resistance: $31,000, $31,500, and $32,000
• Support: $27,000, $26,500, and $26,000

Price Prediction for Bitcoin: The Indicators’ Point of View
The market on June 26 suggested an intense struggle between demand and supply because the histogram representing the volume of trade for the day portrays high activity, but the candlestick did not agree with this. This means that, though there have been significant trading activities on the day’s market, demand and supply are roughly balanced.

With the volume of trade indicator showing significant activity without a strong bearish candlestick on June 26, this suggests that there is about to be a significant breakout of the market. For now, the bearish pressure is on the $30,000 support level, and there is a chance that the breakout could be in the bearish direction. However, if bulls can continue to secure the support level, they may eventually wear out the bearish sentiment.

BTC/USD 4-Hour Chart Outlook
From the perspective of the 4-hour chart outlook, we discovered how the Bitcoin bulls had to deal with bearish pressure on June 26. They are trying to secure the $30,000 price level as the basis for higher price conquest.

In the Relative Strength Index, the RSI line portrays the market dangerously coming close to the midpoint, the 50.00 level. If the profit-taking continues in the Bitcoin market, the $29,880 price level might be the last line of defense, as it is very likely that the market consolidates along the $30,000 price level.

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