November 29, 2022

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Bitcoin drifts towards support at $33,000 in steady slide

1 min read

Bitcoin down 1% on the day

Bitcoin down 1% on the day

Memories of May’s fireworks in bitcoin are fading but the chart continues to show the unease as it consolidates near the bottom of the yearly range.

In the short-term, keep an eye on $33,000. We’re at the lows of the day at $33,150 and Saturday there was buying at $33,000. A break below could challenge last week’s lows around $32,000.

I tend to think we need to get through the summer before volatility picks up but a report today showed crypto volumes were falling fast.

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