[ad_1]
Read U.TODAY on
Google News
Buyers continue to control the initiative in the cryptocurrency market, according to CoinMarketCap rankings.
Top Coins by CoinMarketCap
BTC/USD
Bitcoin (BTC) rate has increased by 1.08% in the last 24 hours.
Image by TradingView
Despite today’s rise, the price of Bitcoin (BTC) is neither bullish nor bearish as it is trading in the middle of the channel between support at $30,900 and resistance at $31,108.
There is little chance of seeing any sharp moves by the end of the day as most of the daily ATR has passed. In this case, a consolidation in the order of $31,000 is the most likely scenario.
Image by TradingView
On a longer time frame, the situation is better for the bulls as the rate sits near the resistance at $31,458. If the price closes above the $31,000 area, the accumulated energy could be enough for a break of the resistance, followed by an explosion into the $32,000 area.
Image by TradingView
On the weekly chart, expect a bar close. If this happens near the recently formed resistance at $31,458, it could be a precondition for a breakout. Overall, the upside may continue to the $32,000 area by mid-July.
Bitcoin is trading at $30,974 at press time.
|
Sources 2/ https://u.today/bitcoin-btc-price-analysis-for-july-4?amp The mention sources can contact us to remove/changing this article |
[ad_2]