Bitcoin Analysis – 30.Jul.2024
Bitcoin Analysis: Analyzing the #Bitcoin chart on the weekly timeframe, we observe that after entering our targeted supply zone, the price experienced an initial correction and dropped to $63,500. Subsequently, it encountered increased demand and was able to rise to $70,000 yesterday. As we know, $70K is a significant psychological resistance level, so the price reacted to it and is currently trading around $66,600. We need to see if the price can stabilize above the support range of $62,700 to $63,500. If it holds above this support level, we can anticipate further growth in Bitcoin, with the next targets being $72,000, $73,777, and $77,000.
(This Post on TradingView)
Author : Arman Shaban
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