Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Submit Press Release
  • Disclaimer
  • Bitcoin (BTC)
  • Cryptocurrency
  • News
  • Price Analysis

Bitcoin (BTC) Turns Bearish Following Declines to Sub-$29K

Solomon Odunayo June 7, 2022 2 min read

Bitcoin could not steady higher past $31,750. The crypto saw a sharp drop that had it beneath the crucial support of $30K.

  • Bitcoin kick-started new plummets from the latest high of $31,750.
  • It trades beneath $30K and 100-hourly Simple Moving Average.
  • The 1hr chart shows the bellwether crypto broke beneath the crucial trend-line with footing at $30.5K (Kraken data).
  • The pair might dip further to explore $28.5K and even $28K.

Bitcoin Price Drops 6%


trade now

Bitcoin saw extended upswings past the resistance level at $31.4K. However, the asset could not overcome the resistance barrier at $32K. Bitcoin formed a higher at $31,725 and launched a new downside move.

Bearishness drove Bitcoin beneath the $31K and $30.5K support zones. Moreover, the hourly timeframe shows a break under a vital bullish line with support at $30.5K. While publishing this blog, Bitcoin hovered beneath $30K and 100-hourly Simple Moving Average.

Bears are trying to erase the footing at $29,350. Upside movements will encounter the nearest resistance at $29.6K. Another hurdle stands at $29.9K. It stands near 23.6% Fibonacci retracement of the latest plummet from a swing high of $31,725 to $29.3K.

Another massive resistance stands at $30,120. A decisive surge beyond this obstacle might see further upsurges to the 50% Fibonacci retracement mark of the mentioned latest drop. More uptick can shift the bias, supporting upswings towards $31.2K.

Further Bitcoin Losses?

Bitcoin might witness more plummets if it fails to recover past the resistance at $30K. The leading crypto will discover the initial footing at $29.2K. The weakness here will see BTC exploring the foothold at $28.5K.

A downward move beneath this support might catalyze another selling wave. Such a case would drive Bitcoin towards the support barrier at $27.2K in the short term.

While publishing this blog, Bitcoin maintains bearishness at $29,512.9. Overnight BTC declines catalyze substantial losses in leading cryptos. The altcoin market seems to suffer more than the leading crypto.

For now, the crypto bloodbath exhibits a bloodbath. The cumulative value of all digital assets lost 5.27% within the past day to $1.21 trillion.

Crucial support zones – $29K, then $28.5K

Crucial resistance zones – $29.9K, $30,120, and then $30.5K.

Trade Now

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Continue Reading

Previous: Dogecoin (DOGE): Should Investors Ready for Another Crash?
Next: Is USDD Primed for Similar Systemic Issues that Crashed UST?

Related Stories

Bitcoin Adoption By Guatemalan Merchants Increases Through Tattoos 
3 min read
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Mining
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News
  • Stablecoin
  • Terra (LUNA)

Bitcoin Adoption By Guatemalan Merchants Increases Through Tattoos 

February 2, 2023
Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report
2 min read
  • Altcoins
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News

Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report

February 2, 2023
Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds
3 min read
  • Cryptocurrency
  • News
  • Regulation
  • Scam / Hack

Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds

February 2, 2023

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$23,823.00
0.99%
ethereum
Ethereum (ETH)
$1,676.79
2.46%
tether
Tether (USDT)
$1.00
0.12%
binancecoin
BNB (BNB)
$328.57
3.81%
usd-coin
USD Coin (USDC)
$1.00
0.08%
ripple
XRP (XRP)
$0.414799
0.43%
binance-usd
Binance USD (BUSD)
$1.00
-0.01%
cardano
Cardano (ADA)
$0.405282
3.29%
dogecoin
Dogecoin (DOGE)
$0.092954
-0.49%
polkadot
Polkadot (DOT)
$6.70
4.82%

Recent Posts

  • Bitcoin Adoption By Guatemalan Merchants Increases Through Tattoos 
  • Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report
  • Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds
  • Ripple Realizes Strong Growth with $226M XRP Sold in Fourth Quarter
  • India 2023 Budget Retains Strict Crypto Tax Rules
  • Where Did Terra Developers Go After Network Collapsed?
  • Core Scientific Strikes $70M Loan Deal With B. Riley
  • BTC Miner Greenidge Reduces $72M Debt With NYDIG To $17M
  • South Korean Law Enforcement Investigates $8M Crypto Scam Targeting Investors
  • Floki Won’t Actually Burn $115M Worth of Tokens: Here’s Why
  • HSBC Reveals Crypto Industry Move with Job Openings
  • Binance Shuts Down Several Accounts Amid Bitzlato Investigation
  • ETH Added An Average Of Over 130,000 Addresses Daily In 2023
  • UK’s Charity Commission Probes Charity Organization Linked To FTX
  • Dogecoin Community Berates Mcdonald’s Over Reluctance To Announce DOGE Adoption

Categories

You may have missed

Bitcoin Adoption By Guatemalan Merchants Increases Through Tattoos 
3 min read
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Mining
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News
  • Stablecoin
  • Terra (LUNA)

Bitcoin Adoption By Guatemalan Merchants Increases Through Tattoos 

February 2, 2023
Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report
2 min read
  • Altcoins
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News

Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report

February 2, 2023
Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds
3 min read
  • Cryptocurrency
  • News
  • Regulation
  • Scam / Hack

Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds

February 2, 2023
Ripple Realizes Strong Growth with $226M XRP Sold in Fourth Quarter
2 min read
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News
  • Ripple (XRP)

Ripple Realizes Strong Growth with $226M XRP Sold in Fourth Quarter

February 2, 2023
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%