Momentum has deteriorated, supporting a lower high compared with May's peak.
BTC remains in a tight trading range as the uptrend weakens. Upside appears limited this week.
A strong NFP could bring more losses to the already weak bitcoin market.
Bitcoin is above the 100-period moving average on both the hourly and four-hour chart as the corrective phase stabilizes.
Bitcoin's range play continues even as short-term price indicator turns bullish.
BTC is down about 37% month to date and has experienced a series of sharp drawdowns similar to 2017 which preceded a bear market.
BTC is down about 3% over the past seven days as the price recovery from $30,000 stalls.
The analyst who predicted bitcoin's price crash says technical studies have yet to confirm a bottom.
BTC could see limited upside as the corrective phase weakens and buyers return.
A decisive break above $40,000 is needed to resume the uptrend.
BTC re-tested minor support around $30,000 over the weekend, but stronger support is seen around $27,000.
BTC held support around $30K and upside appears limited towards $45K with high volatility into the weekend.
Bitcoin sellers remain active as the broader uptrend weakens similar to 2017 and 2018.
The next level of support is seen at around $34,000, which could stabilize the sell-off.
BTC continues to consolidate and is now at the bottom of a three-month range.