Main Points:
Bitcoin (Btc) is breathing, but a positive sign is that the bulls do not give much soil to bear. That suggests that the bulls are holding their positions as they expect to pursue to continue.
BTC -based funds based on US Data. Investors have plowed more than $ 5.2 billion in BTC ETF from July 2.
May the BTC uptrend continue? What are the levels of target and support to guard? Let’s review the charts to find out.
BTC price prediction
Consumers tried to continue moving on Wednesday, but the long wick on the candle shows that the Bears defended the $ 120,000 level.
Repeated failures that crossed above the $ 120,000 level could start a deeper pullback towards the 20-day average transfer of the average ($ 113,528). If the price reblogged from the 20-day EMA, the Bulls would try again to push the BTC/USDT pair above $ 120,000 to $ 123,218 resistance. If they succeed, the pair can start the next leg of up -to -$ 135,729 and eventually to the target pattern of $ 150,000.
Bears need yank the price below $ 110,530 support to occupy control. The pair could then fall to $ 105,000.
Related: Is Fomo back? Bitcoin First Timers bought 140k BTC in 2 weeks
The 20-Em was flatted out, and the relative index index (RSI) was just above the midpoint in the 4-hour chart, which signed a possible range of range in the near term. The pair could trade between $ 115,000 and $ 123,218 for some time.
If the price drops and breaks below $ 115,000, the pair can drop to neckline and eventually to solid support to $ 110,530. Consumers are expected to defend the level of $ 110,530 as a break below can tilt the short -term advantage in favor of bears.
The first sign of the upside will be a rest above $ 120,064. The pair could then re-retest the all-time high to $ 123,218.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
