*$30,000 is THE most important psychological level on the Bitcoin chart. I currently hold a short-term bullish bias towards $32,000.*

Daily:
Bitcoin had a bullish closure today following a retest of support under $29,000. We are now building structure at arguably the most important support level on the charts. The $30,000 psychological level is extremely crucial and plays a significant role in the overall trend of the market. This area can see a lot of volatility and HTF closures with long wicks; I have short-term bullish sentiment and hope to see a small recovery up to $35,000 in the future. If we continue to drop without building support on the weekly than it’s likely we will see steep bearish price action. The next support level of major interest would be around $25,500. Bitcoin is still following the bearishness of the stock markets and any recovery will be bullish for BTC . I will monitor the intraday for potential setups.

Intraday:
The intraday was bullish as we continue to consolidate on the daily. Price is building good structure and I have some bullish bias on the intraday chart. I will look for potential entries tomorrow.

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