BTC Struggles Around $21K

Bitcoin’s price is currently consolidating above the 20K level. The 17K-20K range is likely to provide significant support, as it is the 2017 all-time high range, and it could initiate a rally in the short-term towards the 30K area.The price would have to break the 24K resistance level and the 50-day moving average before a potential retest of the 30K supply zone. On the other hand, if BTC fails to gain sufficient bullish momentum and the 20K area gets broken to the downside, another rapid drop towards the 15K mark and even beyond could be expected.