Bitcoin course falls under the $ 30,000 mark and experts warn of further downward trend

Bitcoin course falls under the $ 30,000 mark and experts warn of further downward trend

### Bitcoin course fails on the $ 30,000 brand

On July 20, the Bitcoin course (BTC) was not able to defend the $ 30,000 mark after opening the trading on Wall Street and it could get worse. According to the data from CoinTelegraph Markets Pro and TradingView, the Bitcoin course on 21-day Simple Moving Average (SMA) crashed. The SMA at $ 30,400 turned out to be an insurmountable hurdle, which resolved the previous day's profit of the Bitcoin.

Expert Michaël van de Poppe warns that the Bitcoin course could go further down. It seems that Bitcoin will go back to the recent lows for the time being. The Trader Daan Crypto Trades assumes that the increasing open interest will provide new volatility in the coming days. The brands at $ 30,500 and $ 29,500 remain the decisive short-term price targets.

The analysts of material indicators emphasize the importance of 21-day SMA and fear that the Bitcoin course may have already reached the highlight of the latest climbing section. The Bitcoin order book on Binance confirms that there is a lack of demand below $ 30,000.

### US dollar recovers thanks to positive labor market data

On July 20, the techacties rose again and unemployment in the USA decreased. This had an impact on the US dollar index (DXY), which has been able to climb almost 101 points for the first time for several days. The lower number of new unemployed in the USA is good for the USD and leads to increased demand.

There is a reverse correlation between the US dollar and Bitcoin course, so overall economic considerations for BTC are of particular interest.

The coming days will show whether the Bitcoin course goes further down or can recover. Traders should keep an eye on the most important price targets while the bulls collect and try to overcome the hurdles.