– Bitcoin bulls have not been able to provide support, increasing the likelihood of a retest of the $29,500 support level.
– The failure of the bulls to step in suggests a lack of buying pressure in the market.
– A retest of the $29,500 support level could potentially lead to further downward movement in the price of Bitcoin.
In summary, the inability of Bitcoin bulls to provide support has raised the possibility of a retest of the $29,500 support level. This lack of buying pressure indicates a potential downward movement in the price of Bitcoin.