Bitcoin has hit a new multi-week low on the cryptocurrency market, however, the $30,000 support barrier still remains defended. Bulls now need to anchor the four-hour candle above the $33,000 level to encourage hopes of a recovery back towards the $36,500 level. Persistent weakness below the $33,000 level could cause the BTCUSD breaking under $30,000 level and fall towards $27,000.
The BTCUSD pair is only bullish while trading above the $33,000 level, key resistance is found at the $34,500 and the $36,500 levels.
If the BTCUSD pair trades below the $33,000 level, sellers may test the $31,000 and $30,000 levels.
