Bitcoin Future (BITN24): check the support and resistance points 07/24/2024
Bitcoin contracts (BITN24), expiring in July, closed the last session down 2.69%, reaching 368,400 points. The support regions are at 366,000/360,300 points (1), 351,700/344,000 points (2), and 332,340/323,120 points (3). Resistances are at 381,180/386,090 points (1), 389,435/397,900 points (2), and 401,700/424,500 points (3).
On the 60-minute chart, Bitcoin contracts closed lower, indicating a correction after a bull run. To continue falling, the price needs to break the support region at 366,000/360,300 points. To resume the rise, the asset must overcome resistance at 381,180/386,090 points.
This Wednesday, traders should watch resistance at 381,180/386,090 points. If this region is overcome, the buying flow could intensify, targeting the next resistances at 389,435/397,900 points and 401,700/424,500 points. If it continues in correction, the price needs to break 366,000/360,300 points to seek new support, with the next regions at 351,700/344,000 points and 332,340/323,120 points.
On the daily chart, Bitcoin contracts also closed lower. To resume the buyer flow, it must overcome resistance at 381,180/389,435 points. With the recent highs and the distance from the averages, the asset may continue to correct, needing to break support at 366,000/351,700 points.
If it continues to rise, the price should surpass 381,180/389,435 points, intensifying the buyer flow and seeking resistance at 397,900/401,700 and 424,500/450,000 points. If it follows the downward trend of the last session, it will need to break 366,000/351,700 points to intensify sales, targeting supports at 344,000/332,340 and 323,120/304,220 points
