This website uses cookies to ensure you get the best experience on our website
CRYPTOALTUM IS EVOLVING! EXCITING CHANGES COMING SOON 

Technical Analysis for BTCUSD for 6th July 2022

Bitcoin Bulls Optimistic, BTC Primary Resistance at $21k



Past Performance of BTC

The expansion of BTC prices on July 4 had relatively high trading volumes, pointing to participation. At spot rates, prices are stable. Even amid trader optimism, there must be a sharp close above the middle BB and $21k, confirming July 4 gains.


Bitcoin Technical Analysis

From the formation in the daily chart, buyers stand a chance. Prices are generally firm despite the slow down in the early Asian session. Still, because BTC is trending above last week's lows at $18.8k, traders can find entries in lower time frames. The immediate target in this setup will be $21k and later $22k. On the other hand, risk-averse traders can wait for a definitive close above $23k before loading the dips. This is because if there is a break below $18.8k with relatively high trading volumes, bears of mid-June will be confirmed, nullifying the current bullish preview.


What to Expect from BTC

Bitcoin is bearish from a top-down preview. Unless there is a strong surge above $23k, sellers will remain in charge. Nonetheless, traders are upbeat, expecting more, especially if there is a follow through of July 5 gains.


Resistance level to watch: $21k

Support level to watch: $18.8k


Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.


Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020