♠️ FLN1 from « Fallen Xrypta Team » is presenting 🖤
BTC Forecast: July 2024 - Rocket or Free Fall? ❎ vs 🩸
🖥️ Technical Analysis
🔻Key levels of support:
« $60,000
« $58,000
« $55,000
❎ Key resistance levels:
» $63,800
» $65,000
» $68,000
▪️RSI: The Relative Strength Index (RSI) is currently at 60.69, indicating strong momentum. A reading above 50 confirms that the bulls are still in control.
▪️MA: On the weekly timeframe, the 50-day moving average (MA) has crossed the 200-day MA from the bottom to the top, which is a strong bullish signal.
▪️MACD: MACD also signals a positive trend. A negative histogram signal is not observed, which adds confidence in further growth.
🟢 Optimistic scenario
BTC managed to break above 62027 USDT, confirming the reliability of the ascending trend line. If the bulls can hold above this mark, we can expect a test of 63849 USDT and maybe even go higher to 67000 USDT. Interest in futures on the Chicago Stock Exchange indicates possible support for this trend. Over the past month, open interest in futures has increased by 35%, which may indicate a possible significant price increase.
💣 Pessimistic scenario
However, not everything is so smooth. There is a downside risk if BTC fails to hold the 62027 USDT level. Futures data from Chicago indicated that short positions continued to increase. If the bulls lose control, we could see a decline to 61000 USDT or even 60038 USDT. This is confirmed by a decrease in open interest by 456 contracts, which may signal the departure of large players.
🏴 Risks / Behind the scenes / Insides
◾CME: Open interest on the Chicago Mercantile Exchange (CME) shows indecision, with many participants taking both long and short positions. Trading volume remains high, indicating significant interest from both sides of the market.
◾Fundamental News: Any regulatory news or significant market events can have a significant impact on price.
◾Support levels: If the price breaks below $60,705, it could lead to a further drop to $58,218.
◾Miner Sales: Miners have sold over 2,300 BTC in the last 72 hours, putting pressure on the market
◾»»» We remember the possible Black Swan / Black Dolphin «««
💠 Summary
The game becomes more and more interesting.
BTC is at a critical crossroads and the coming days will tell if it can break higher or if it will still go lower. Keep your finger on the pulse and be prepared for any scenario.
💎Bonus: Predictions from "Fallen Xrypta Team"
🩸 Drop to $60,000 - $58,000 this week (potentially 07/05/2024 before the weekend)
❇️ Growth after 07.08-09.2024 to $63849 | Growth up to $72144 (low probability - potential some kind of scam from whales and corporations / stock exchanges)
Stay tuned and make decisions wisely! DYOR.
BTC price at the moment = 62014 USDT
