Latest Articles

HomeLatestBitcoin Price (BTCUSD) Gathers Positive Momentum - July 2, 2024
Advertisements

Bitcoin Price (BTCUSD) Gathers Positive Momentum – July 2, 2024

Bitcoin (BTCUSD) Price Analysis:

Advertisements

Bitcoin price (BTCUSD) has settled above the neckline of a recently breached double bottom pattern visible on the chart. This technical formation, coupled with a clear elimination of negative momentum in stochastic indicators, suggests a favorable environment for the resumption of the bullish trend in the intraday perspective. The next immediate target for Bitcoin stands at 65,485.00$.

Advertisements

The presence of the EMA50 further reinforces the continuation of the suggested bullish wave. However, it’s crucial to monitor the price closely as a break below 62,000.00$ could exert negative pressure, potentially targeting the critical support level around 60,330.00$.

Advertisements

Expected Trading Range:

Today’s expected trading range for Bitcoin (BTCUSD) is between support at 62,000.00$ and resistance at 65,485.00$.

Trend Forecast: Bullish

In summary, the forecast for Bitcoin (BTCUSD) indicates a bullish outlook supported by technical patterns and momentum indicators. Traders should remain attentive to price movements around the identified levels to gauge the continuation or reversal of the current trend.

Related topics:

Advertisements
Advertisements