Bitcoin Analysis for July 4, 2024:

Current price: $58,930 (down 2.02% from last 24 hours) Market cap: $1.16 trillion 24-hour trading volume: $25.02 billion Recent performance: * Bitcoin price decreased by 3.11% over the past week. * Bitcoin price decreased by 14.34% over the past month. * The price of Bitcoin has increased by 91.54% over the past year. Technical indicators: * Relative Strength Index (RSI): RSI indicates an overbought area, suggesting the possibility of a short-term correction. * Moving Averages: The 200-day and 50-day moving averages are still in an uptrend, indicating a long-term uptrend. * Moving Average Convergence (MACD): MACD indicates a bullish crossover, indicating a potential uptrend. Outlook: * Short-term: Bitcoin is likely to face a short-term correction due to the rising RSI. * Long-term: Bitcoin's long-term uptrend remains intact, supported by the moving averages and MACD. $BTC #bitcoin