Bitcoin (BTC) Price Prediction for July 3

Category: Crypto News, News

Bitcoin (BTC) Price Prediction for July 3

By Editorial team of BIPNs│Published On: July 4, 2024│1.2 min read│Views: 241│0 Comments│

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The bears’ pressure continues, according to CoinStats.

BTC chart by CoinStats

BTC/USD

The price of Bitcoin (BTC) has dropped by 3.25% over the last day.

Image by TradingView

Despite today’s decline, the rate of BTC keeps looking bearish as it is on its way to the local support level of $59,544.

If the daily bar closes below the vital zone of $60,000, there is a high possibility to expect a test of $58,000.

Image by TradingView

Sellers are also more powerful than buyers on the daily time frame. If the situation does not change until the end of the day and the bar closes near its low, the fall is likely to continue to the support of $56,500.

Image by TradingView

From the midterm point of view, there are no reversal signals yet. If buyers cannot seize the initiative shortly, traders may expect a support breakout, followed by a move to the $55,000 range.

Bitcoin is trading at $60,311 at press time.

About the author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.

Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.

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Category: Crypto News, News