Bitcoin is consolidating near 30000 and could start another up move if BTC clears 30250 resistance zone. Bitcoin started a downside correction from near 30550 and BTC fell below 30000 zone, however, bulls are active near 29650 zone and after another 5% drop in Nifty CPI, Bitcoin is currently trading above 29800 and 100 hourly simple moving average. On BTC hourly chart, there is also a descending channel forming with upside resistance near 30250 and next major resistance near 30500. A close above 30500 could start a strong up move to 31200 If Bitcoin fails to clear 30250 resistance, it could fall again with immediate support near 29850 and next major support near 29650.