Search Inside Bitcoins

Bitcoin Price Prediction: BTC/USD Stays Below $35,000

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Btcoin Price Prediction
Btcoin Price Prediction

Join Our Telegram channel to stay up to date on breaking news coverage

Bitcoin Price Prediction – July 5

The Bitcoin price prediction becomes a sea of red, with nearly all assets suffering in the greater market collapse

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $39,000, $41,000, $43,000

Support Levels: $30,000, $28,000, $26,000

Btcoin Price Prediction
BTCUSD – Daily Chart

BTC/USD has been struggling to maintain its position above $35,000 as the coin sees another dive below the $34,000 level today. The Bitcoin price is in a dangerous position as the price slips below the 9-day and 21-day moving averages during the early Asian hours. If the breakthrough is confirmed, the downside momentum will gain traction with the next focus on $32,500.

Bitcoin Price Prediction: Where is BTC Price Going Next?

At the time of writing, the Bitcoin price is trading below the 9-day and 21-day moving averages at $33,834 with a decline of 4.09% on the daily price chart. However, looking at the declining daily volume candles, together with the steady but stable recent Bitcoin price action, traders can assume that a stronger negative move may be coming soon. At the moment, the Relative Strength Index (14) is seen moving below 50-level, which may likely create more downtrends.

Looking at the daily chart, BTC/USD is struggling to maintain the $33,000 support level. If the coin fails to remain above this level, then, it could drop to the next support levels of $30,000, $28,000, and $26,000. From above, maintaining the $33,000 level could send the coin to retest old support turned resistance levels at $35,500. The further movement could go above the significant 9-day and 21-day moving averages, which could send the price towards the resistance levels of $39,000, $41,000, and $43,000.

BTC/USD Medium – Term Trend: Ranging (4H Chart)

Looking at the 4-hour chart, the bulls are trying to defend the $30,000 support. Meanwhile, the $32,500 and below may come into play if BTC breaks below the lower boundary of the channel.

BTCUSD – 4 Hour Chart

However, if the buyers can push the market price above the 9-day and 21-day moving averages, traders may expect a retest at the $35,000 resistance level, and breaking this level may further allow the bulls to reach $35,500 and above. The Relative Strength Index (14) is at the 47-level, suggesting sideways movement.

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

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

Join Our Telegram channel to stay up to date on breaking news coverage

Read next