Since the past few days, traders can easily see that BTC/USD is back in the red zone posting major losses of 1.62% on the day after commencing the trading at $36,537.
The Bitcoin price just moved toward the support level of $35,000, marking $35,255 as the current daily low at the moment.
At the time of writing, BTC/USD is struggling to maintain the $36,000 level, and if the coin begins the downward trend as the technical indicator Relative Strength Index crosses below the 40-level, the next support may come at $30,000, $28,000, and $26,000.
On the 4-Hour chart, the Bitcoin price is hovering below the 9-day and 21-day moving averages to create a new low.
However, on the downside, immediate support could be located below the lower boundary of the channel to hit the main support at the $35,000 level.