Bitcoin Price Prediction A Return To 33,000 Levels To Avoid Another Loss

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For the afternoon to come

Bitcoin is expected to retreat to the $ 32,752 pivot to bring into play the first major resistance level at $ 33,315.

However, broad market support would be needed for Bitcoin to return to the $ 33,000 levels.

Barring a widespread crypto rebound, the first major resistance level and Tuesday’s high of $ 33,337.0 would likely cap any rise.

In the event of a prolonged crypto rally, Bitcoin could test resistance at levels of $ 34,000. The second major resistance level is located at $ 33,899.

Failure to return to the $ 32,752 pivot would bring the first major support level down to $ 32,168 in play.

Unless an extended afternoon sell-off, however, Bitcoin should avoid support levels below $ 31,000.

The second major support level at $ 31,605 should continue to limit the decline.

Beyond the support and resistance levels, we saw the 50 EMA retreat further from the 100 and 200 EMA during the morning.

We also saw the 100 EMA pull back from the 200 EMA, which resulted in further losses this morning.

A continued pullback of the 50 EMA from the 100 EMA and the 200 EMA this afternoon would bring support levels back into play.

The key for the afternoon will be for Bitcoin to cross the pivot at $ 32,752 to avoid another day in the red.

By late morning we saw the 50 and 100 EMA start to flatten out. A shrinkage on the 200 would support a broad-based crypto rebound.

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