empty
 
 
cn
支持
即时开户
交易平台
入金/出金

05.07.202116:44 Forex Analysis & Reviews: BITCOIN Price Analysis for 5th July

  • BTC established a lower high, around $36,000.
  • Market rapidly moves to rest $33,000 previous low.
  • Next support around $31,000

Exchange Rates 05.07.2021 analysis

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.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Jan Novotny,
Analytical expert of InstaSpot
© 2007-2024
立即从分析师的建议受益
充值交易账户
开设交易账户

InstaSpot分析评论将让您充分了解市场趋势! 作为InstaSpot的客户,您将获得大量的免费服务以实现有效的交易。

赚取InstaSpot的加密货币利率变化
下载MetaTrader 4并开始您的第一笔交易
现在无法通话?
提出您的问题,用 在线帮助.