Bitcoin price declined heavily below the $30,500 support. BTC even spiked below $29,500 before the bulls appeared. A low is formed near $29,375 and the price is now rising. It is back above the $30,200 resistance level. There was a break above the 50% Fib retracement level of the downward move from the $31,276 swing high to the $29,375 low. There was also a move above the $30,500 resistance zone.