Latest Articles

HomeLatestBitcoin Price (BTCUSD) Suffers More Losses – Forecast for Today, July 4,...
Advertisements

Bitcoin Price (BTCUSD) Suffers More Losses – Forecast for Today, July 4, 2024

Bitcoin (BTCUSD) Price Analysis

Advertisements

Expected Scenario

Advertisements

Bitcoin price (BTCUSD) has opened today’s trading session with a significant decline, aiming to achieve our initial target at $58,200. Further downside momentum is anticipated to drive the price towards $56,160, which represents the 50% Fibonacci correction level for the entire rise from $38,500.56 to $73,817.92.

Advertisements

Therefore, we expect the bearish trend to continue dominating in the upcoming sessions, as observed within the bearish channel visible on the chart. It is noteworthy that a break above $60,330 could halt the expected decline and potentially initiate a bullish wave targeting initial tests around $63,260.

Expected Trading Range

Support: $56,160

Resistance: $60,330

Trend Forecast: Bearish

Related topics:

Advertisements
Advertisements