Bitcoin Rebounds To Above $30K, Resistance Seen At $34K

Bitcoin Rebounds To Above $30K, Resistance Seen At $34K >> The guide shares details about a brief price rally seen in the famous BTC coin during the Asian Trading Hours.

Bitcoin is the famous Cryptocurrency having millions of holders across the world. It is making news amongst Worldwide investors and traders after its market cap reached above the $30,000 support level in the Asian Trading Hours. As a result, the investors and traders responded promptly to the oversold situations. 

Besides, the following levels of resistance are recorded at $32,000 and $34,000, giving the market cap a downward trend. Presently, BTC has recorded a trading volume of $31,000 in the press time, and it is up by 6% in the last 24 hrs. 

So, Bitcoin Rebounds to Above $30K, Resistance Seen at $34K, what does it mean? 

What is Bitcoin?

Bitcoin is the decentralized cryptocurrency or digital asset without a central bank or administrator. Bitcoin is being traded with the ticker symbol BTC, and it can be sent from one user to another on a peer-to-peer BTC network without intermediates. 

BTC is the famous cryptocurrency with holders Worldwide. The BTC network nodes verify all transactions via cryptography, and it is recorded in a public distributed ledger popularly called Blockchain.

It was founded in 2008 by a group of people using the famous given name, Satoshi Nakamoto. It was re-launched as open-source software in 2009, and it gained popularity and is widely used. 

Bitcoin Rebounds to Above $30K, Resistance Seen at $34K – The Highlights

Since the market value of BTC has resumed to over $30,000 support level, it is creating news amongst the traders and investors. Buyers reacted to the price hike and the oversold conditions. 

• The fast rebound and resistance are above the $30,000 mark, and it is the same as the June 22 shakeout, which leads to the brief price rally. The Relative Strength Index on the 4 hrs chart registered the oversold signal on 19th July 2021 as the market value dropped to $30,000. However, the RSI is not over-purchased, and hence it keeps the investors focused towards the Bitcoin Rebounds to Above $30K, Resistance Seen at $34K.
• The hundred periods of the moving average on four hrs chart is trending down as investors are reaping the quick profits out of the price rally.
• Besides, the short-term drive is improvising because BTC is resuming to the month-long level. The rebound is more than $30,000, urging the investors to sell the coin under pressure from June, and now it is getting slower. 

What do Buyers have to Say?

After evaluating, we have found a variety of comments from buyers. A majority of the buyers are not interested in the Bitcoin Rebounds to Above $30K, Resistance Seen at $34K as they want to raise the market cap of BTC. Many buyers are against the resistance, and now they are urging the community to support the price rise rally. 

You may check online, and you will find many comments and feedback from the investors and buyers. 

Conclusion

During the Asian trading hours, BTC resumed its market cap at about $30,000 mark, and many investors reacted to the oversold situation and took the social platform to express their thoughts. 

Since it gave an intermediate-term downtrend of the coin, people reacted when the Bitcoin Rebounds to Above $30K, Resistance Seen at $34K. You can find more details online when searching for Bitcoin Rebounds to Above $30K.

Crypto investors must keep themselves updated with all the latest news and learn about the future of Cryptocurrency in 2021.  

What is your opinion on the BTC rebound? Would you like to share it in the comments section?