As it can be inferred from the Monthly timeframe graph, the price of Bitcoin has rejected the area of resistance located at the $30-31K price region that lines up with the 50% Fibonacci retracement level of the 04/2022 - 12/2022 bearish run.
Hence, judging by the formation, we remain positive about the fact that the price might experience further drop and reach new low levels.
Hence, judging by the formation, we remain positive about the fact that the price might experience further drop and reach new low levels.
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