The Price of BTC moved back above the critical support level of $29,000 last Friday (May 13th) after dipping as low as $25,500 on the previous day.

Traders should lower their protective stop to lock in order to lock in a greater profit.

In the last seven days Bitcoin has shed approximately 25% of value, if it fails to hold onto current support at roughly $29,000, Bitcoin could be in for an even worse week ahead.

Today Bitcoin declined to its lowest level in 2022, hitting a low of $30,330 on Bitstamp. It wasn’t just the crypto space that had a crash today nearly every single market except the U.S. dollar was deep in the red today as investors seem to finally have taken inflation levels at 40-year highs seriously.