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

目錄

BH NEWS

在 2024年7月1日發表的其他文章

Ripple (XRP) Price Prediction: Whales Navigate Uncertainty, Preventing Drawdown

LUNA Price Predictions and Investment Insights

Sealana and Cosmos Investors Shift Focus To MoonBag, The Top Crypto Presale in 2024, Promising Su...

Circle becomes first global stablecoin issuer to comply with MiCA

Polymarket Hits $100M Monthly Volume on 2024 Election Bets

Ripple XRP Price Struggles to Break Free from Bearish Grip, Trading Activity Declines

訂閱免費電子報，每天收取加密貨幣最新動態！