Bitcoin course fails on the $ 30,000 mark and it could get worse

Bitcoin course fails on the $ 30,000 mark and it could get worse

Bitcoin course fails at $ 30,000

On July 20, Bitcoin was unable to defend the $ 30,000 brand after the trading opening on Wall Street. According to the data from CoinTelegraph Markets Pro and TradingView, Bitcoin fell down again when the 21-day achieved simple sliding average (SMA). The SMA at $ 30,400 turned out to be an insurmountable hurdle and dissolved the previous day's profit.

Expert warnings before further downward trend

Expert Michaël van de Poppe warns that Bitcoin might be even further down. He said: "We don't get over the sticking point, so it seems that Bitcoin is back to the recent lows." The Trader Daan Crypto Trades also assumes that the increasing open interest will provide new volatility in the coming days.

Analysis and forecast

The analysts of material indicators emphasize the importance of the 21-day SMA and fear that Bitcoin may have already reached the highlight of the latest climbing section. They say that the bulls first have to collect themselves in order to have a chance to skip this hurdle. The Bitcoin order book on Binance confirms that there is a lack of demand below $ 30,000.

US dollar on the advance

On July 20, the macroeconomic data showed that the techacties go up again and that unemployment in the USA decreases. As a result, the US dollar index (DXY) has been able to climb almost 101 points for the first time for several days. This could have an impact on the Bitcoin course, since there is previously a reverse correlation between the US dollar and Bitcoin course.

overall economic considerations are important

Autting co-coin are particularly interesting overall economic considerations, as there is an interaction between US dollar and Bitcoin course. The current developments in the US dollar could therefore have an impact on the further course of the Bitcoin course. Experts warn of a possible further downward trend and recommend the Bitcoin investor to be careful.