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Bitcoin (BTC) $ 68,085.24
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wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 68,098.25
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Litecoin (LTC) $ 73.80
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Solana (SOL) $ 183.54
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monero
Monero (XMR) $ 163.97
bitcoin
Bitcoin (BTC) $ 68,085.24
ethereum
Ethereum (ETH) $ 3,532.80
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 601.56
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.600374
binance-usd
BUSD (BUSD) $ 1.01
dogecoin
Dogecoin (DOGE) $ 0.140737
cardano
Cardano (ADA) $ 0.442354
solana
Solana (SOL) $ 183.54
matic-network
Polygon (MATIC) $ 0.54832
polkadot
Polkadot (DOT) $ 6.42
tron
TRON (TRX) $ 0.134511

BTC Bulls Test Upper Resistance

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Bitcoin’s value on July 1, 2024, stands at $62,769, with a 24-hour intraday value vary of $61,261 to $63,694. The cryptocurrency’s market capitalization is $1.23 trillion, and the 24-hour commerce quantity is $21.98 billion.

Bitcoin

Bitcoin’s hourly chart presents a powerful upward development ranging from roughly $60,620, peaking at $63,724, adopted by a slight decline. The rise in quantity through the value surge signifies stronger shopping for curiosity. A strategic entry level may very well be round $62,500 to $63,000 if consolidation and reversal indicators seem, with a short-term goal close to the $64,000 vary.

BTC/USD each day chart on July 1, 2024.

The four-hour chart mirrors the hourly chart, exhibiting a transparent uptrend from a low of $59,923 to a peak of $63,724, adopted by a minor retracement. The amount sample helps the value motion with a major spike through the breakout above $60,000. An entry level round $62,500, aligning with the decrease finish of the present consolidation zone, is advisable.

BTC/USD 4-hour chart on July 1, 2024.

Analyzing the each day chart, we observe a broader image with a downtrend from a excessive of $71,949 to a low of $58,456, adopted by a restoration to $63,724. Bitcoin quantity has remained secure, with noticeable spikes throughout main value actions. Given the restoration and consolidation, an entry round $62,000 to $63,000 is good, particularly if the value holds above the $60,000 assist degree.

The oscillators current a combined image. The relative energy index (RSI) at 44 and Stochastic at 43 each point out a impartial stance. The commodity channel index (CCI) at -32 and the common directional index (ADX) at 33 additionally counsel a scarcity of sturdy directional motion. Nonetheless, the momentum indicator at -1352 suggests a shopping for alternative, whereas the transferring common convergence divergence (MACD) degree at -1530 signifies promoting strain. This combined sign setting requires cautious optimism, with shut consideration to additional market developments.

Shifting averages (MAs) present further insights. The ten-period exponential transferring common (EMA) and easy transferring common (SMA) counsel a shopping for development with values at $62,360 and $61,847, respectively. Nonetheless, the 20, 30, 50, and 100-period EMAs and SMAs are signaling a promote, apart from the 200-period EMA and SMA which point out a purchase at $58,195 and $58,212, respectively. This implies a short-term bullish outlook however potential long-term resistance until vital assist ranges are maintained.

Bull Verdict:

Bitcoin’s market outlook for July 1, 2024, is cautiously bullish with key ranges to observe round $62,500 for entry and $63,724 for exit. The general development suggests potential for upward motion if vital assist ranges are maintained and shopping for curiosity continues.

Bear Verdict:

Regardless of some bullish indicators, bitcoin’s market outlook for July 1, 2024, additionally presents a number of promote indicators from transferring averages and combined oscillator readings. Merchants ought to stay cautious, awaiting potential downward strain if key assist ranges fail.

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