July 6 BTCUSD Bexplus Chart Analysis
At the time of writing, Bitcoin, BTC to USD, was down by 0.9% to $33,897. Bitcoin would need to move back through the $34,500 to bring the first major resistance level at $35,500 into play.
Bitcoin shows signs of a rebound as it hit $33,128 and increased to the $34,000 range. Bears and bulls are wrestling with each other, but the price of bitcoin shows no sign of establishing 34k as new support. Price is expected to retest the resistance of $32,800 if bulls fail to break $34,500.
Bollinger Bands were observed to converge slightly on the one-hour chart, suggesting market volatility has subsided.
Strategies:
Short: $34,200 Stop-loss level: $34,500
Long: $32,800 Stop-loss level: $32,400
DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Bitcoin shows signs of a rebound as it hit $33,128 and increased to the $34,000 range. Bears and bulls are wrestling with each other, but the price of bitcoin shows no sign of establishing 34k as new support. Price is expected to retest the resistance of $32,800 if bulls fail to break $34,500.
Bollinger Bands were observed to converge slightly on the one-hour chart, suggesting market volatility has subsided.
Strategies:
Short: $34,200 Stop-loss level: $34,500
Long: $32,800 Stop-loss level: $32,400
DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.
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