Bitcoin breaks $30,000 bullish or bull trap?

BTCUSDT

Bitcoin is currently encountering resistance around the 30,550 mark, but the fact that the bulls have not given up much ground indicates that buyers are not in a rush to exit.

However, the bears are expected to put up a strong fight and attempt to pull the price below the crucial support level of the 20-day exponential moving average, currently around 28,163. If they succeed, it could lead to increased selling pressure and the BTC/USDT pair may drop to the support at 25,250.

Alternatively, if the price manages to continue moving up or bounces back from the 20-day EMA, it will indicate strong demand at lower levels, increasing the possibility of a rally to 32,400. However, this level is likely to pose significant resistance.

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