Bitcoin (BTC/USD) Price Oscillates at $35,000

Bitcoin Price Prediction – July 3
The market worth involving Bitcoin and the US Dollar has been less active in motion as price oscillates around the level of $35,000. As of writing, the crypto’s value trades around $34,638 at a percentage rate of about 2.52.

BTC/USD Market
Key Levels:
Resistance levels: $37,500, $42,500, $47,500
Support levels: $30,000, $27,500, $25,000

BTC/USD – Daily Chart
Today, the BTC/USD daily chart shows that the crypto’s price oscillates majorly around the level of $35,000 with the formation of a smaller bullish candlestick to confirm it. Closely, on top of the point earlier mentioned, there is a conjoining outlook of both the smaller SMA and the bearish trend-line. The 50-day SMA indicator is above the 14-day SMA trend-line. The Stochastic Oscillators are in a state of trying to cross the lines northbound close below a range of 80. That signifies that some pressures to the upside are somewhat in the womb of time.

 

Will there be a prolongation of the move in the BTC/USD operations as its price oscillates?

Only a suddenly fearful movement of the BTC/USD market at the trading level of $35,000 will probably suggest what could be the next definite direction. A downward push could mainly be the usual term that allows the crypto economy to find support in no time. Most of those levels below the value earlier mentioned are decent potential buying zones as far as the current cycle technical analysis of this crypto-trade is concerned.

Until the present, the main barrier trading zones against the smooth uptrend of this crypto economy are around $35,000 and $40,000. Bears may have to be on the lookout for a pause of price movement, possibly a reversal coupled with active motion around those levels before making a come-back again into the market. In the meantime, the market tends to oscillate furthermore around the lower value for a while.

BTC/USD 4-hour Chart

From a closer technical point of viewing, the BTC/USD on the medium-term analysis chart shows that the crypto’s price oscillates around the values of $32,000 and $36,000 from June 19 or thereabout until now. Both the SMAs are also in those values. The 50-day SMA indicator is closely above the 14-day SMA trend-line. The Stochastic Oscillators are in the overbought region, stretching their line northbound to somewhat indicate that a buying force is ongoing. However, the market’s force is low action that buyers in the short-term cannot rely upon.

 

Looking to buy or trade Bitcoin (BTC) now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provide

Remember, all trading carries risk. Past performance is no guarantee of future results.

Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.

Leave a Reply

Your email address will not be published. Required fields are marked *