Bitcoin (BTC) Analysis - July 7, 2024

Current price: 57,846 USD (up 2.13% in 24 hours)

Market capitalization: 1.14 trillion US dollars

24-hour trading volume: US$32.89 billion

Current trend: bearish

Key analytical points:

* Resistance: $60,000, $62,000

* Support: US$55,000, US$52,000

Technical indicators:

* Relative Strength Index (RSI): In neutral territory (slightly above 50)

* 200-day moving average: It intersects negatively with the 50-day moving average

Expectations:

* Short-term: BTC is likely to continue its downtrend, with a possible test of the $55,000 support level.

* Longer term: The picture remains unclear, with multiple factors that could impact the price of BTC, including monetary policy tightening by central banks, adoption of Bitcoin by institutions, and overall market sentiment. $BTC

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