#Bitcoin Bulls Firm, BTC Stuck in a Choppy Sideways Consolidatio
Past Performance for Bitcoin
Based on the performance in the daily chart, bitcoin prices remain volatile and choppy. Even though the primary trend remains northwards, there are hints of weakness, looking at the candlestick arrangement. The only positive is that sellers have been unable to break below the 29.8k and 30k primary support. The 31.3k is a liquidation level to watch out for.
#Bitcoin Technical Analysis
The uptrend remains, and prices are inside a bull flag, looking at the performance in the daily chart. The consolidation remains, but the breakout direction would shape the short-to-medium-term trend. For now, conservative traders can wait until there is a clear trend definition, aware that gains above 31.3k would likely pump the coin to 32.5k or better. Conversely, sharp losses below 29.8k invalidate the current preview, possibly allowing the coin to retest 28.3k and later 27k.
What to Expect from #BTC?
Buyers are optimistic, but the current formation points to balanced price action. The overall trend, set by events in the last weeks of June, dictates price action. Aggressive, risk-off traders may load as prices move sideways, aligning with the primary trend if prices are above 29.8k.
Resistance level to watch: 31.3k
Support level to watch: 29.8k
Disclaimer: Opinions expressed are not investment advice. Do your research.
Based on the performance in the daily chart, bitcoin prices remain volatile and choppy. Even though the primary trend remains northwards, there are hints of weakness, looking at the candlestick arrangement. The only positive is that sellers have been unable to break below the 29.8k and 30k primary support. The 31.3k is a liquidation level to watch out for.
#Bitcoin Technical Analysis
The uptrend remains, and prices are inside a bull flag, looking at the performance in the daily chart. The consolidation remains, but the breakout direction would shape the short-to-medium-term trend. For now, conservative traders can wait until there is a clear trend definition, aware that gains above 31.3k would likely pump the coin to 32.5k or better. Conversely, sharp losses below 29.8k invalidate the current preview, possibly allowing the coin to retest 28.3k and later 27k.
What to Expect from #BTC?
Buyers are optimistic, but the current formation points to balanced price action. The overall trend, set by events in the last weeks of June, dictates price action. Aggressive, risk-off traders may load as prices move sideways, aligning with the primary trend if prices are above 29.8k.
Resistance level to watch: 31.3k
Support level to watch: 29.8k
Disclaimer: Opinions expressed are not investment advice. Do your research.
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