Bitcoin Price Analysis: Gains of 85% Year-to-Date: 1 July 2023

Crypto Daily
Crypto Daily

30 Jun 2023 3:00 PM

Bitcoin (BTC/USD) remained in a modest uptrend early in the Asian session as the pair continued to consolidate recent gains above the 30500 area after trading as high as...

  • BTC/USD is in a modest uptrend, consolidating recent gains above the 30500 area.
  • Buying power strengthened around 30240.32 during a slight pullback.
  • BTC/USD gained approximately 11.3% in June and is up 85.6% year-to-date.
  • Recent print around 31443.67 was a twelve-month high and test of an upside price objective.
  • Upside price objectives include 31737, 32125, and 33569 areas.
  • Potential technical support and buying pressure areas include 29863, 29427, 28886, 28804, 28182, 28096, and 27306.
  • Technicians are closely watching the 28095.44 area for technical support.
  • 50-bar MA (4-hourly) is bullish, indicating above the 100-bar MA (4-hourly) and 200-bar MA (4-hourly).
  • 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and above the 200-bar MA (hourly).
  • Price activity is nearest the 50-bar MA (4-hourly) at 30415.23 and the 100-bar MA (hourly) at 30429.07.
  • Technical support is expected around 24440.41, 23270.10, and 22769.39.
  • Technical resistance is expected around 31986.16, 32989.19, and 34658.69.

The article provides a positive outlook for BTC/USD, highlighting its uptrend, recent gains, and potential price objectives. It also mentions technical support and resistance levels to watch.

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What is the year-to-date gain for BTC/USD?What are the potential technical support levels for BTC/USD?Which moving averages are indicating a bullish trend?What are the upside price objectives for BTC/USD?What is the nearest price activity in relation to the moving averages?

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