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Bitcoin Price prediction: The basic line in the sand

As the price rises, Bitcoin prices show marked divergence and a drop in trading volume.
Bitcoin prices are still below Glassnode's difficulty ribbon chain indicator.
BTC prices remain largely bearish until they break above $30,000.
Bitcoin prices show that fundamentals may move away from the market until higher targets are reached. Nonetheless, traders should always look for opportunities and manage risks accordingly.

Bitcoin prices show stagnation
Bitcoin prices have struggled to push higher targets. Peer-to-peer digital assets had a fairly volatile month in July as traders experienced volatility and counterfeiting in both directions. Bitcoin price gains look pretty crowded due to unpredictable behavior. This subtle manifestation of uncertainty can be seen as a weakness for technical analysts. The next few weeks could present opportunities to short digital assets.

029f0a285d445b4c7efaebbb95386dd3Bitcoin is currently trading at $23.438. The volume profile indicator confounds the idea of a weakening trend that reduces BTC price gains as cumulative trading volumes taper off. In addition, the price of bitcoin began to fall $23,000 and $25,400 above the level was capped, forming a wedge pattern.

The June 12 selloff finally broke support, and now Bitcoin prices have fallen below that level. Bulls need to re-break the colorful barrier near $30,000 before confident fundamentalists re-enter the market.

BTC prices remain largely bearish until they break above $30,000. However, discerning traders may be able to profit in the coming days by shorting the notorious Crypto King. That said, technicals suggest the entry may be a bit premature, but a violation of expected market structure could be an early entry signal.

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