Bitcoin (BTC) extended losses during the Asia trading day and broke below intraday support at $36,500. The cryptocurrency appears to be stabilizing, although stronger support is seen at $30,000.
BTC was trading around $36,000 at press time and is down 6% over the past 24 hours. For now, upside remains limited beyond the $38,000-$40,000 resistance zone.
Momentum signals remain negative on weekly and monthly charts. That means BTC is vulnerable to further declines. The next two weeks will be critical to determine if buyers have enough conviction to defend the $28,000-$30,000 support zone.
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