Bitcoin(BTC/USD) Daily Chart Analysis For Week of July 12, 2024
Technical Analysis and Outlook:
Over the course of this week's trading, Bitcoin has continuously traded within the range of the completed Outer Coin Dip of 54000 and the Mean Resistance level at 57900. Our analysis anticipates a potential breakout from this fluctuation zone, implying upward movement toward the Mean Resistance level at 60400 and possibly further to the subsequent Mean Resistance level at 62800. It is important to note the presence of potential downward squeeze pressure at the specified target level.
Over the course of this week's trading, Bitcoin has continuously traded within the range of the completed Outer Coin Dip of 54000 and the Mean Resistance level at 57900. Our analysis anticipates a potential breakout from this fluctuation zone, implying upward movement toward the Mean Resistance level at 60400 and possibly further to the subsequent Mean Resistance level at 62800. It is important to note the presence of potential downward squeeze pressure at the specified target level.
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