Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-shows-steady-growth-in-july/" data-wpel-link="internal">Bitcoin Shows Steady Growth in July</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/bitcoins-price-decline-under-37000-amidst-whale-sell-offs-and-its-impact-on-altcoins/" data-wpel-link="internal">Bitcoin</a></strong>, started July with an increase of approximately 5%. Accordingly, the price rose above the $63,800 level, creating a positive trend in the <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">markets</a>. Initially forming a solid base above the $60,000 level, BTC achieved a steady increase thanks to this support. The price movement, gaining momentum by surpassing the $61,500 resistance zone, violated a major downtrend line on the hourly chart of the BTC/USD pair.</p> 
<h2 style="text-align: justify" id="important-levels-for-bitcoin">Important Levels for Bitcoin</h2> 
<p style="text-align: justify">Bitcoin is currently trading above $63,200 and is well above the 100-hour Simple Moving Average (SMA) level of $62,450. The next important resistance level for BTC is set at $63,900.</p> 
<p style="text-align: justify">If Bitcoin manages to surpass this resistance, it may encounter resistance at several important levels. The first significant resistance is at $64,000, followed by $64,400. A decisive move above $64,400 could potentially push the price to the $65,500 level. Further gains could even lead BTC to test the $66,000 resistance in the near term.</p> 
<h2 style="text-align: justify" id="possible-downward-movements-in-btc">Possible Downward Movements in BTC</h2> 
<p style="text-align: justify"><strong>The leading cryptocurrency</strong> Bitcoin may undergo a downward correction if it fails to surpass the $63,900 resistance zone. The first support on the downside is near the $62,800 level, followed by the support level around $61,800. This level is also aligned with the 50% Fibonacci retracement level of the recent upward move. Additional support is formed around $61,250, coinciding with the 100-hour SMA. Failure to hold these support levels could push the price towards the $60,500 support zone.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="alignnone wp-image-366683 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/BTCUSD_2024-07-01_08-12-46.png" alt="" width="1815" height="798"></p> 
<p style="text-align: justify">Technical indicators currently provide a favorable environment for Bitcoin. The hourly MACD is gaining momentum in the bullish zone, indicating the continuation of upward potential. Additionally, the hourly RSI (Relative Strength Index) for the <strong>BTC/USD</strong> pair is above the 50 level, reinforcing the strength of the current trend.</p> 
<p style="text-align: justify">Key resistance zones to watch include $63,650, $64,000, and $64,400. Conversely, the support levels of $62,800, $61,800, and $61,250 should be considered critical in the event of a downward correction.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-shows-steady-growth-in-july/" data-wpel-link="internal">Bitcoin Shows Steady Growth in July</a></h5>

Bitcoin Shows Steady Growth in July

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