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Bitcoin price analysis is bearish for today as the market established a lower high overnight and started pushing lower earlier today. Therefore, we expect BTC/USD to move past the $33,000 support and reach further lows later this week.
BTC/USD is trading in a range of $33,608 – $35,937, indicating a substantial amount of volatility. Trading volume has remained flat and totals $25.4 billion, while the total market capitalization trades around $630.6 billion, resulting in the market dominance of 44.87 percent.
On the 4-hour chart, we can see the Bitcoin price moving lower after failing to set a higher high, indicating that further downside is expected later this week.
Bitcoin price action continues trading sideways over the past weeks after support was found around $30,000, and the market failed to move lower from there. Another attempt to push lower to the $29,000 mark was followed, where a slightly lower low was set on the 22nd of June.
Earlier today, Bitcoin price started pushing lower again and breached the several-day ascending support trendline over the past hours. This price action development signals that BTC/USD wants to reverse to the downside again and see the market make another attempt to set a major swing lower low.
Bitcoin price analysis is bearish today as a lower high was set around $36,000 overnight, indicating that bulls are exhausted. Therefore, BTC/USD will likely continue lower later this week as the market momentum shifts back to being bearish.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
