Currently, Bitcoin is being traded at $30,320. Last week Bitcoin had outstanding growth and started a new week in a solid position over $30,000.
Bitcoin protects the $ 30,000 level when closing the store every week. Despite the lack of motivation, the buyer can still protect the $ 30,000 landmark.
In total, BTC/USD gained 15.6% last week, making it its third-best weekly performance of 2023, according to data from monitoring resource CoinGlass.
This week is all about flipping that resistance zone / supply zone at $31,000 into support.
The chart shows that Bitcoin has escaped the trend of discounts, but it is still likely to take a fake break out, so be careful.
The market is being expected much on the price increase of BTC next week and as in the next month. The possibility that in the coming time BTC will have a strong growth to determine the next ATH level of the cycle.
Difficult to exploit difficulties due to decline despite the increase in BTC price
In an interesting thing, if it is likely to be temporary, contrast to the BTC price power, the basic principles of the Bitcoin network are cooling themselves. According to the latest estimate from BTC.com, Bitcoin Network Diffium This will mark the first downward adjustment since the beginning of May, but is forecast to be the second largest long distance in 2023 at about -2.5%.
The ratio of Bitcoin Rhodl pointed to "new breakthrough"
Bitcoin is at the dawn of "New speculation cycle" In his latest research on the data of Bitcoin, Rhodl, the founder of the lookboxtobitcoin argue that the source of BTC is processed from Hodler-Bas-Bas based on a speculative tool.
Despite the complicated paper, Rhodl ratio acts as a useful tool for Bitcoin price cycles and is currently repeating the expected classical behavior at the beginning of BULLS.
While the assets of long hodlers at the end of 2022, opportunities traders are currently entering again, the data shows that the transition to the main trading benefit is wider.
The level of user care The Fear & Greed
Crypto index, which means that the market mood component has been considered in recent days when BTC/USD has tried to create a new support. After a height of 65/100 on June 22, this index has decreased by 10 points, tending to the territory "neutral" when the spot price motivation cooled down.
This index is a late index, but it shows how sensitive to the market is for price action, and not only BTC, with ETH Alo, try to flip $ 2,000 to support. Based on emotional data, popular traders have warned against the desire until the clearer signals are given.
