Both Bitcoin and other cryptocurrencies have been rocked by a massive drop since the afternoon of May 5. Currently trading at $36,080, Bitcoin has lost 9.2% from its price 2 weeks ago. Technical indicators are suggesting that there could be another downside towards the 30k - 32k support zone as the momentum weakens.
It May Have Short-Term Stability
If BTC price closes weekly above $37,500, it can be considered that the support is working and the decline may stop. There is resistance at $40,000 so buying activity is limited in the short term.
