Bitcoin Forecast, 15-07-2024

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 15-07-2024

Bitcoin Forecast

Bitcoin news

Greetings. My name is Victor, and today we are going to look at the technical analysis and forecast of the Bitcoin (BTC) exchange rate. This article is a personal analysis and is not a financial recommendation. Over the past month, bitcoin has completed its fourth halving, reducing the reward to miners from 6.25 to 3.25 bitcoins. This will have a significant impact on the supply of new bitcoins, which indicates the potential for its price to rise. In addition, an ETF on spot bitcoin was approved in Hong Kong, which may attract institutional investors and increase the liquidity of the asset.

Also in July, payments to former users of the Mt. Gox, which could inject $9 billion into the market. This should not have a significant impact on the market, given the current capitalisation of bitcoin. This news indicates a growing interest in bitcoin and support from institutional investors, which is positive for the long-term prospects of the asset.

Bitcoin monthly chart

On the monthly chart, we can see that bitcoin is in an accumulation phase. July started with a green candle, which indicates a potential price increase. My forecasts point to a possible rise to $85,000 this autumn. After a period of decline, we can expect a return to growth.

Weekly chart of BTC

On the weekly chart, we see bitcoin attempting to go up after a period of decline. The latest news and institutional support may influence further growth. The dominance of USDT has dropped from 5.5% to 5%, which indicates an outflow of capital from stablecoins to bitcoin and other cryptocurrencies. I predict that the bitcoin rate will be stable in the coming weeks with possible further growth.

Daily chart of BTC (Bitcoin)

On the daily chart, we use several indicators to identify possible pivot points. The divergence indicator shows that the rate has passed the overbought zone and is now heading upwards. The MACD indicator also shows an upward trend. Fibonacci shows that the rate is moving from the red zone to the middle zone. According to the stochastic indicator, the rate is moving from the underbought zone to the overbought zone, which also indicates the possibility of continued growth.

Bitcoin

To sum up, we can say that bitcoin is showing steady growth on different timeframes. The monthly chart indicates the possibility of significant growth in the autumn, the weekly chart confirms the potential for reaching new highs, and the daily chart shows that there are already conditions for continued growth. Bitcoin’s dominance remains high, which is also a positive signal for the market.

I recommend following the news and indicators to make informed investment decisions. Remember that this is not a financial recommendation, but only my personal opinion. I wish you success in crypto trading and investments! Don’t forget to donate to the Armed Forces and support our country in this important time.