Bitcoin news - Price recovery - Fundamentals - Technical Analysis

Just after hitting another lower low and falling below $30000 at 22.06.2021 (approx $28750), Bitcoin seems that it's recovering for the last 3 days (27-28-29.06.2021) and green candles are back again at the daily charts. It seems there is a strong buying point at around $30000 from investors who consider this a solid and a critical point to jump onboard.

Despite the price drop due to the latest chinese measures for closing down bitcoin mining operations and China's Central bank advices for more strict actions for cryptos, the overall sentiment and fundamentals from all over the world (hedge funds, banks, financial institutions, etc), indicates that cryptocurrencies and bitcoin road for mass adoption is inevitable.

Certain funds show their preference in cryptocurrencies and more specifically in Bitcoin. After El Salvador 's recent adoption, a statement from R.Salinas that his bank in Mexico could be the first accepting cryptocurrencies drove the general momentum upwards. Meanwhile, J.Dorsey and E.Musk tweets show that a crypto discussion is about to take place.

Bitcoin's price is almost 10% up for the last 3-5 days, while at the moment the price is around $36133.

At 25.06.2021, we had the ''death cross'', where the 50 day average crossed with the 200 day average, while as per the price chart, bitcoin is on a downtrend since 14.04.2021, where it reached its all time high approximately at $64850.

As for some technical analysis and support - resistance levels, the Fibonacci 50% level is at $34244, and the 38.2% level is at $41530. Since 20.05.2021, it seems that Bitcoin's price is moving sideways in a channel between $40000 and $30000. Once there will be a break out, at the upside (above $40000-41000) or the downside (below $30000-27500), will pretty much determine the following price moves.