Latest Articles

HomeLatestBitcoin Price (BTC/USD) Continues Hitting Negative Targets – Forecast for July 5,...
Advertisements

Bitcoin Price (BTC/USD) Continues Hitting Negative Targets – Forecast for July 5, 2024

Bitcoin (BTC/USD) Price Analysis

Advertisements

Expected Scenario

Advertisements

Bitcoin price (BTC/USD) has begun today with a strong decline, successfully reaching our anticipated target at $56,160.00. The price has broken below this level, confirming the dominance of the bearish trend on both the intraday and short-term basis, paving the way for additional negative targets, with the next station at $51,990.00.

Advertisements

Supporting Factors

A deeper look at the chart reveals that the price has completed a double top pattern, suggesting potential for further losses over the longer term, extending to $44,650.00 and $40,950.00. However, if the price fails to consolidate below $56,160.00, it might prompt recovery attempts and initiate a bullish wave targeting the $60,330.00 area initially.

Expected Trading Range

Today’s anticipated trading range for Bitcoin is between the $52,000.00 support level and the $57,000.00 resistance level.

Trend Forecast

The trend forecast for Bitcoin remains bearish.

Related topics:

Advertisements
Advertisements