Pressure is likely to shoot up if short traders capitalize on an incoming #sell signal from the Moving Average Convergence Divergence (MACD) indicator.
This call to sell #BTC would manifest when the MACD line in blue crosses below the signal line in red.
![](https://public.bnbstatic.com/image/pgc/202307/55bb65f6c10dc9c6e7cf59e5be43be9e.jpg)
Generally, the movement of the momentum indicator as it drops toward the mean line (0.00) and possibly the negative region would tighten the bearish grip—a move likely to trigger a selloff below $30,000.
Some of the key levels that #traders must keep in mind are the resistance at $31,000 and support at $30,000.
Notably, a break and hold above $31,000 would encourage more #investors to join the bandwagon, targeting a breakout to $35,000 and $38,000.
Bitcoin may be in grave danger of dropping to $25,000 in the event support at $30,000 crumbles.
Traders must consider the tentative buyer congestion at $28,000, which might allow Bitcoin to sweep through fresh #liquidity ahead of a bullish reaction.
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