Bitcoin price forecast – July 1
The market value of BTC / USD is currently reacting to bearish resistance after it was unable to break the $ 35,000 headline and now trade at $ 33,563. The current market interest rate is a negative figure of about 3.64%.
BTC / USD market
Resistance levels: $ 37,500, $ 42,500, $ 47,500
Support levels: $ 30,000, $ 27,500, $ 25,000
BTC / USD – daily chart
On the BTC / USD daily chart, the declining candlestick provides an opportunity to show a return of downward force in the cryptographic economy. This has led to market trading responses to downward resistance calculated alongside a downward trend line. The smaller SMA trend line will remain close to the $ 35,000 level once the bearish trend line has set it down. The 50-day SMA indicator is above the 14-day SMA trend line. Stochastic oscillators are at a distance of 80 on closed lines in an attempt to cross the downward mark.
Will the price still remain as the market reacts to the resistance of the downhill?
BTC / USD the market value has reached a significant resistance trade. Therefore, bulls have slowed down in response to the declining path of the market. The placement of both the bearish trend line and the smaller SMA on the BTC / USD daily chart has made the $ 35,000 level a critical trading zone in determining further upward fluctuations in cryptographic trading facilities.
The downside is that the BTC / USD bears had to take advantage of the market’s currently low downward returns. The main point of resistance in the market for a sales order is between the $ 35,000 limit and the lower $ 30,000 level. A long consolidated price movement around a lower value can lead to a decrease in the value of encryption. While this assumption plays out, placing new sales orders is not technically valuable.
BTC / USD 4 hour chart
There have been variants of 4-hour landing shower candles formed sequentially against both SMA trend lines. BTC / USD medium-term chart. The 50-day SMA indicator is strictly at the $ 35,000 level because the 14-day SMA trend line is below it. The stochastic oscillators are in the oversold territory with crossed lines indicating a southward direction to indicate a downward force is in progress. If the force strengthens, the $ 32,500 level in the South will be exceeded with the goal of a critical support level of $ 30,000 in retrospect.
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