Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-records-steady-july-growth" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Records Steady July Growth</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-and-altcoin-markets-surge-following-etf-news-and-asian-market-opening" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> commenced July with a notable 5% rise, propelling its price above the $63,800 mark and setting a positive <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market</a> trajectory. Establishing a robust base above $60,000, BTC’s upward momentum was bolstered by clearing the $61,500 resistance area, which effectively breached a major downtrend line on the BTC/USD hourly chart.</p>
<h2 id="significant-bitcoin-levels-to-watch">Significant Bitcoin Levels to Watch</h2>
<p style="text-align: justify">Currently trading above $63,200, Bitcoin is comfortably positioned above the 100-hour Simple Moving Average (SMA) level of $62,450. The next crucial resistance for BTC lies at $63,900. Overcoming this could pave the way for further resistance at $64,000 and $64,400. A decisive break past $64,400 might propel the price towards the $65,500 region, with potential to test $66,000 shortly.</p>
<h2 id="will-btc-face-downward-movements">Will BTC Face Downward Movements?</h2>
<p style="text-align: justify">Bitcoin may experience a downward adjustment if it fails to surpass the $63,900 resistance. Initial support on the downside is around $62,800, followed by $61,800, which aligns with the 50% Fibonacci retracement of the recent rise. Additional support is established near $61,250, matching the 100-hour SMA. Breaching these levels could drive the price down towards the $60,500 support area.</p>
<h2 id="key-takeaways-from-technical-indicators">Key Takeaways from Technical Indicators</h2>
<p style="text-align: justify">Technical indicators currently favor Bitcoin:</p>
<ul>
 <li>The hourly MACD is gaining bullish momentum, suggesting continued upward potential.</li>
 <li>The hourly RSI for the BTC/USD pair is above 50, reinforcing the current trend’s strength.</li>
</ul>
<p style="text-align: justify">Monitoring key resistance zones at $63,650, $64,000, and $64,400 is essential. Conversely, crucial support levels to watch include $62,800, $61,800, and $61,250 in case of a downward correction.</p>
<p style="text-align: justify">Overall, Bitcoin’s performance in early July indicates a strong upward trend, with technical indicators signaling potential for further gains. However, vigilance is required at critical resistance and support levels to navigate possible market corrections effectively.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-records-steady-july-growth" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Records Steady July Growth</a></h5>

Bitcoin Records Steady July Growth

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