Technical Analysis for BTCUSD for 30th June 2023
Bitcoin Bulls Firm, BTC Stuck in a Choppy Sideways Consolidation
Past Performance of BTC
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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