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Bitcoin Price (BTCUSD) Begins Negatively – Forecast for July 3, 2024

Bitcoin (BTCUSD) Price Analysis

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Current Scenario

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Bitcoin (BTCUSD) closed below 62,000.00$ yesterday and has initiated a strong decline today, targeting an initial test of 60,330.00$. Monitoring the price action at this level is critical, as a breach below could trigger further losses, potentially targeting 58,200.00$ as the next significant level of support.

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Bearish Outlook

The outlook remains bearish for upcoming sessions. A decisive break above 62,000.00$ would alleviate current selling pressure and could prompt a recovery in Bitcoin’s price.

Expected Trading Range

  • Support: 59,000.00$
  • Resistance: 62,500.00$

Trend Forecast: Bearish

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