Bitcoin (BTC) is currently trading at $30,694 with a market capitalization of $575 billion, up 3.59 percent. Bitcoin has been consistently breaking critical support levels on the downside, prompting some traders to expect more pain ahead. However, if Bitcoin bounces back this week, Fairlead Strategies CEO Katie Stockton believes the sell-off was only temporary. She also mentioned a secondary support level of $27,000, above which the long-term trend continues to hold.