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 29-07-2024
Bitcoin Forecast
Bitcoin news
I see that Bitcoin has been showing a lot of volatility in recent days. Since the launch of the Ethereum ETF in early July, Bitcoin has shown significant growth, peaking at $68,000 thanks to positive economic news. The important news is that the political situation in the US is also affecting the cryptocurrency market. Joe Biden’s withdrawal from the presidential election and Donald Trump’s declining chances contributed to positive sentiment on the market. However, it is worth noting that there has been no significant news about Bitcoin lately, which has led to low volatility.
Bitcoin monthly chart
On the monthly chart, I can see that Bitcoin continues to show a similar pattern to the last growth season. The two hammers that worked last time also show the possibility of a significant move to $85,000. We’ll see what happens next, perhaps this movement will be stronger and reach $100,000. It’s worth noting that there were no factors such as Bitcoin ETFs and decisions by large companies to buy Bitcoin, which increases the likelihood of growth.
Weekly chart of BTC
On the weekly chart, I would distinguish several phases. After the first phase of growth, there was a decline, then growth and decline again. Now we are seeing an upward phase. A decline is possible, but I think that in the next two weeks there will be consolidation either at $68-67 thousand or a decline to $65 thousand. If the rate crosses $72,000, it is expected to continue growing to $85,000. It is important to note that the movement can be both downward and upward.
Dominance of BTC and USDT
The market dominance of Bitcoin and USDT (Tether) remains high. Many traders and investors continue to hold these assets due to their stability and liquidity. Despite short-term fluctuations, the overall trend points to positive prospects for Bitcoin and USDT. The dominance of Bitcoin shows its importance in the cryptocurrency ecosystem, while Tether provides liquidity and stability for traders.
Daily chart of BTC (Bitcoin)
On the daily chart, the stochastic indicator shows that the Bitcoin rate is in an overbought zone. Last time, such zones were followed by a strong decline to the underbought zone, which was followed by a significant rise. The indicator shows that it is time to buy Bitcoin, and a strong continuation of growth is possible. I predict that this week there may be a fixation with a slight decline to $66-65 thousand, but the overall movement will be upwards.
Bitcoin
In summary, I see positive prospects for Bitcoin. Despite short-term fluctuations and possible corrections, the overall trend remains upward. Indicators show that it is time to buy Bitcoin, and significant growth is possible by the end of the year. The political situation in the United States and the launch of the Ethereum ETF are also contributing to the positive sentiment on the market. Pay attention to market signals and make informed investment decisions.
Дивитись Відео в YouTube – Біткоїн прогноз — криптовалюта українською, 29-07-2024
