analytics1_1
Bitcoin will test its Support.1 after successfully breaking through and closing below the Uptrendline intraday chart, Friday, July 4, 2024.
Bitcoin will test its Support.1 after successfully breaking through and closing below the Uptrendline intraday chart, Friday, July 4, 2024.
Crypto-currencies
2025-07-04 05:58:02
Bitcoin – Friday, July 4, 2025.
With an inflow into the Bitcoin ETF around USD$ 50 billion, it shows strong interest from investors, thus strengthening the legitimacy of this cryptocurrency, thus potentially creating a Bitcoin Rally.
Key Levels
1. Resistance. 2 : 111626.00.
2. Resistance. 1 : 110764.51.
3. Pivot : 109622.67.
4. Support. 1 : 108761.18.
5. Support. 2 : 107619.34.
Tactical Scenario
Positive Reaction Zone: If Bitcoin price is stuck at 108761.18, then Bitcoin has the potential to continue strengthening to 110764.51
Momentum Extension Bias: If the strengthening momentum and volatility support it, Bitcoin will continue strengthening to 111626.00.
Invalidation Level / Bias Revision
Upside bias weakens when the price falls and breaks through and closes below 107619.34.
Technical Summary
Although there is a Divergence between Bitcoin price movement and the RSI (14) indicator which is at a neutral bearish level, the EMA 20 position which is still above the EMA 50 (Golden Cross) will hold back the rate of Bitcoin's weakening correction even though it has currently broken below its Uptrendline.
Economic News Release Agenda:
None because the US Market is closed for Independence Day (4th of July).
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