Bitcoin has survived a dozen FUDs and still manages to stay strong above the psychological support of $30,000. The Bitcoin price movement today was ‘unexpected’ I will say as many analysts were voting on the bearish side.
This week started with a complete green chart and bulls are in control since then. Bitcoin price analysis in this tricky situation is riskier than normal days however technical analysis can help us predict the price with the help of indicators.
We are at the tip of the spear for the consolidation zone. We need to get above $35,100 to confirm the breakout – assuming this happens, we will continue the ranging path and track to $40,000. Break down $34,000 then it’s bad news we will likely see a track down to $32,300. Long-term projection remains on point. Operate with larger stop-losses here to guarantee profits on trades as we seem to have pretty bullish momentum even if we see a breakdown of support – that looks like it will only be short-term. With the breaking local trend, the bitcoin price is going to move to break local resistance of $36,000 first and if it is supported by long green candles, the price will surely be moving much further till Friday. Overall, a bullish trend is seen and BTC going into July is looking more and more promising.
We highly encourage you to use our analysis but this is not financial advice, DYOR.