Bitcoin Forecast, 08-07-2024

Greetings to you on the crypto site. My name is Viktor and today I will share my opinion about #bitcoin, #btc-usdt, using the TradingView service, here Bitcoin Forecast for the Week of 01-07-2024

Bitcoin Forecast

Bitcoin monthly chart

I will be doing a technical analysis of Bitcoin, starting with the monthly chart. As you can see from the analysis of the past summer months, there was a significant increase after the quiet summer of 2020. We are currently experiencing a similar situation. The summer was relatively stable, and if the pattern repeats itself, we can expect growth to the $85,000 mark in the autumn.

Weekly chart of BTC

Moving on to the weekly chart, we see important indicators. Several times, the week ended with a decline in the rate, but the last attempts by sellers to lower the rate were bought off by buyers. This points to the possibility of further growth. Although summer is still in full swing, autumn looks more likely to see the rate rise. The current support is at $52,000, which gives hope for stability and further growth.

Bitcoin Forecast, 08-07-2024

Daily chart of BTC (Bitcoin)

The situation becomes even clearer on the daily chart. We can see several unsuccessful attempts by sellers to lower the rate, which may indicate a future upward trend. Similar situations have led to significant growth in the past. Taking these points into account, we can assume that the rate may return to the $65,000 level. A more detailed understanding is provided by the hourly chart, which shows the activity of different sessions – American, European, and Asian.

Bitcoin Forecast, 08-07-2024

Thus, the analysis of bitcoin on different timeframes shows the possibility of stable growth in the coming months. The summer was quiet, but autumn could be a period of active growth. The current support at $52,000 is important for further upward movement. Follow my CryptoViktor channel to keep up with the latest news and forecasts about cryptocurrencies in Ukrainian.
*** Translated with www.DeepL.com/Translator (free version) ***

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