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How will Bitcoin react now that it has broken below $30,000?

Bitcoin is trading below $30,000. Last time we saw this price was back in late June and price then bounced strongly towards $36,600. There are several occasions where price bounced strongly from the $29,000 price level and this makes it a considerable horizontal support that should not be ignored.

analytics60f6ed9d26779.jpg$30,000 next. Resistance is found at $36,300 and as long as price is below this level, short-term trend remains bearish.

The material has been provided by InstaForex Company -