Technical analysts view bitcoin's $30,000 level as a make or break support level that could lead to significant downside if it doesn't hold.
Musk, Dorsey, and Wood answered a series of questions on cryptocurrencies and addressed a number of pain points associated with bitcoin, including its extreme volatility, intense energy usage, and reliance on fossil fuels and sustainable energy.
Many technical analysts view bitcoin's $30,000 level as a make or break level for the cryptocurrency that could lead to significant downside if it doesn't hold.said in a note on Wednesday that since the $30,000 level is heavily watched by traders, it is prone to a shakeout below that level, also known as a false breakdown. A false breakdown often traps bears below a key support level before surging higher.
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