Convergence

Based

Bitcoin

Divergence

<p><strong>Bitcoin, the premier cryptocurrency, is primed for a bullish breakout, and recent market analysis suggests a rise to $35,000 in the next seven days. Despite its current price of $30,808.82, key indicators point towards a positive price movement. Let’s take a look at this <a href="https://cryptoticker.io/en/bitcoin-price-bull-run-60k/" rel="noopener noreferrer nofollow">Bitcoin price</a> article.</strong></p> <img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/BTCUSD_2023_06_30_11_48_34_2a68dcbd63.png" alt="">
<p>The primary bullish indicator is the support level at $30,000. This psychological level has been tested multiple times over the past few weeks and has held firm, suggesting strong investor sentiment.</p>
<p>The <a href="https://en.wikipedia.org/wiki/Relative_strength_index" target="_blank" rel="noopener noreferrer nofollow">Relative Strength Index (RSI)</a>, a key technical indicator, currently hovers around the 67-mark on the daily chart, indicating that Bitcoin is in oversold territory. Historically, such levels have triggered a bullish response.</p>
<h2 id="h-volume-and-moving-averages"><span id="Volume_and_Moving_Averages"><strong>Volume and Moving Averages</strong></span></h2> <img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/BTCUSD_2023_06_30_11_49_57_f766b01b8c.png" alt="">
<p>Additionally, the trading volume during the dip was relatively low, which typically suggests a lack of selling pressure. The Moving Average Convergence Divergence (MACD), a trend-following momentum indicator, shows a bullish divergence, hinting at a potential upside breakout.</p>
<p>Bitcoin’s Bollinger Bands, another powerful technical tool, show that BTC is near the lower end of the range. A bounce back to the mean or beyond is a common occurrence after such movements. Furthermore, the Fibonacci retracement drawn from Bitcoin’s recent peak to its latest trough reveals a significant resistance at the 0.618 Fibonacci level, which lies around $35,000. This further substantiates our predicted price target.</p>
<h2 id="h-bitcoin-price-market-sentiment-and-macro-trends"><span id="Bitcoin_Price_Market_Sentiment_and_Macro_Trends">Bitcoin Price: <strong>Market Sentiment and Macro Trends</strong></span></h2>
<p>The growing adoption of Bitcoin as a payment method by multinational corporations, combined with a surge in institutional investment, has boosted market sentiment. Also, macroeconomic factors such as inflation and geopolitical uncertainties are driving investors towards ‘digital gold’.</p>
<h2 id="h-conclusion"><span id="Conclusion"><strong>Conclusion</strong></span></h2>
<p>Based on these factors, we predict that Bitcoin’s price is poised for a rally towards $35,000 in the next seven days. However, as with any investment, it’s vital to consider potential risks and conduct thorough due diligence.</p>

Bitcoin Price To Touch $35,000?: A 7-Day Forecast

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