The world’s largest cryptocurrency was struggling to have a positive crossover above the crucial mark of 30K.
Towards the end of the week, selling pressure kicked in which forced the price level to drop below 28K.
On a weekly setup, the BTC price level is trading at the lowest region in the Fibonacci Retracement while the RSI suffered multiple breakdowns to the oversold region.
Overall, the support levels for BTC can be placed at FWB:27K and FWB:25K, respectively. If the bulls are able to make a bounceback, resistance levels can be placed at 30K and 32K.