TA: Bitcoin Bears Are Back, Here’s Why BTC Could Test $30K

Bitcoin price failed to clear the $37,000 resistance against the US Dollar. BTC is declining and it remains at a risk of more losses below $34,000.

Bitcoin is facing a lot of hurdles near the $36,000 and $37,000 resistance levels.
The price is currently trading well below $37,000 and the 100 hourly simple moving average.
There is a key bearish trend line forming with resistance near $36,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could decline heavily if it settles below the $34,000 support and $33,200.

Bitcoin Price Turns Red
Bitcoin made a couple of attempts to clear the $37,000 resistance zone, but it failed. The last swing low was formed near $33,650 before BTC corrected higher.
It broke the $34,000 and $35,000 resistance levels. There was also a break above the 23.6% Fib retracement level of the downward move from the $40,417 high to $33,650 low. The price is now struggling to clear the $36,000 resistance level.
Bitcoin is also trading well below $37,000 and the 100 hourly simple moving average. Moreover, there is a key bearish trend line forming with resistance near $36,000 on the hourly chart of the BTC/USD pair.

Source: BTCUSD on TradingView.com
On the upside, an immediate resistance is near the $35,500 level. The first major resistance is near the $36,000 level and the trend line. The next major resistance is near the $37,000 level. It is close to the 50% Fib retracement level of the downward move from the $40,417 high to $33,650 low.
A close above the $37,000 resistance zone could open the doors for a steady increase. The next major barrier for the bulls is near $40,000 level.
More Losses in BTC?
If bitcoin fails to clear the $36,000 resistance, there is a risk of a downside break. An initial support on the downside is near the $34,500 level.
The first major support is near the $34,000 level. If there is a downside break below the $34,000 support, the price could decline towards the $32,000 support zone in the coming sessions. Any more losses could clear the path for a test of the $30,000 level.
Technical indicators:
Hourly MACD – The MACD is slowly gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $34,000, followed by $32,000.
Major Resistance Levels – $35,500, $36,000 and $37,000.

bitcoin
Bitcoin (BTC) $ 16,939.66
ethereum
Ethereum (ETH) $ 1,260.89
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 292.19
usd-coin
USD Coin (USDC) $ 1.00
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.394517
dogecoin
Dogecoin (DOGE) $ 0.101476
cardano
Cardano (ADA) $ 0.323228
matic-network
Polygon (MATIC) $ 0.911032
polkadot
Polkadot (DOT) $ 5.54
staked-ether
Lido Staked Ether (STETH) $ 1,245.93
okb
OKB (OKB) $ 21.88
shiba-inu
Shiba Inu (SHIB) $ 0.000009
litecoin
Litecoin (LTC) $ 76.02
dai
Dai (DAI) $ 1.00
tron
TRON (TRX) $ 0.054032
solana
Solana (SOL) $ 13.49
uniswap
Uniswap (UNI) $ 6.15
avalanche-2
Avalanche (AVAX) $ 13.66
chainlink
Chainlink (LINK) $ 7.34
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 16,903.61
leo-token
LEO Token (LEO) $ 3.80
cosmos
Cosmos Hub (ATOM) $ 10.19
ethereum-classic
Ethereum Classic (ETC) $ 19.50
the-open-network
The Open Network (TON) $ 1.80
monero
Monero (XMR) $ 145.94
stellar
Stellar (XLM) $ 0.087329
bitcoin-cash
Bitcoin Cash (BCH) $ 110.99
quant-network
Quant (QNT) $ 129.84
algorand
Algorand (ALGO) $ 0.240526
crypto-com-chain
Cronos (CRO) $ 0.064199
filecoin
Filecoin (FIL) $ 4.47
apecoin
ApeCoin (APE) $ 3.92
near
NEAR Protocol (NEAR) $ 1.69
vechain
VeChain (VET) $ 0.019195
hedera-hashgraph
Hedera (HBAR) $ 0.048174
internet-computer
Internet Computer (ICP) $ 4.17
flow
Flow (FLOW) $ 1.09
terra-luna
Terra Luna Classic (LUNC) $ 0.000180
elrond-erd-2
MultiversX (Elrond) (EGLD) $ 43.95
frax
Frax (FRAX) $ 1.00
trust-wallet-token
Trust Wallet (TWT) $ 2.44
eos
EOS (EOS) $ 0.927935
tezos
Tezos (XTZ) $ 1.01
the-sandbox
The Sandbox (SAND) $ 0.586197
aave
Aave (AAVE) $ 63.54
chiliz
Chiliz (CHZ) $ 0.168128
theta-token
Theta Network (THETA) $ 0.893992
huobi-token
Huobi (HT) $ 6.79