• bitcoinBitcoin (BTC) $ 67,676.00
  • ethereumEthereum (ETH) $ 3,498.83
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 599.27
  • solanaSolana (SOL) $ 180.64
  • xrpXRP (XRP) $ 0.615830
  • staked-etherLido Staked Ether (STETH) $ 3,501.15
  • usd-coinUSDC (USDC) $ 1.00
  • dogecoinDogecoin (DOGE) $ 0.138721
  • the-open-networkToncoin (TON) $ 7.02
  • cardanoCardano (ADA) $ 0.437109
  • avalanche-2Avalanche (AVAX) $ 32.38
  • tronTRON (TRX) $ 0.134475
  • shiba-inuShiba Inu (SHIB) $ 0.000018
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 67,637.00
  • polkadotPolkadot (DOT) $ 6.33
  • chainlinkChainlink (LINK) $ 14.33
  • bitcoin-cashBitcoin Cash (BCH) $ 392.21
  • nearNEAR Protocol (NEAR) $ 6.16
  • uniswapUniswap (UNI) $ 7.96
  • litecoinLitecoin (LTC) $ 73.27
  • daiDai (DAI) $ 0.999457
  • leo-tokenLEO Token (LEO) $ 5.76
  • pepePepe (PEPE) $ 0.000012
  • wrapped-eethWrapped eETH (WEETH) $ 3,651.76
  • matic-networkPolygon (MATIC) $ 0.543147
  • internet-computerInternet Computer (ICP) $ 10.39
  • kaspaKaspa (KAS) $ 0.175506
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 1.43
  • ethereum-classicEthereum Classic (ETC) $ 23.61
  • aptosAptos (APT) $ 7.46
  • ethena-usdeEthena USDe (USDE) $ 0.999851
  • stellarStellar (XLM) $ 0.105897
  • moneroMonero (XMR) $ 163.06
  • mantleMantle (MNT) $ 0.884111
  • dogwifcoindogwifhat (WIF) $ 2.85
  • blockstackStacks (STX) $ 1.90
  • render-tokenRender (RENDER) $ 6.89
  • filecoinFilecoin (FIL) $ 4.65
  • makerMaker (MKR) $ 2,845.39
  • arbitrumArbitrum (ARB) $ 0.787404
  • injective-protocolInjective (INJ) $ 26.86
  • hedera-hashgraphHedera (HBAR) $ 0.072645
  • crypto-com-chainCronos (CRO) $ 0.094673
  • cosmosCosmos Hub (ATOM) $ 6.42
  • okbOKB (OKB) $ 41.67
  • immutable-xImmutable (IMX) $ 1.62
  • vechainVeChain (VET) $ 0.030077
  • bittensorBittensor (TAO) $ 337.57
  • optimismOptimism (OP) $ 1.95
  • bonkBonk (BONK) $ 0.000031
  • arweaveArweave (AR) $ 32.82
  • suiSui (SUI) $ 0.850221
  • the-graphThe Graph (GRT) $ 0.212259
  • first-digital-usdFirst Digital USD (FDUSD) $ 1.00
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,916.44
  • flokiFLOKI (FLOKI) $ 0.000200
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,547.49
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,647.63
  • lido-daoLido DAO (LDO) $ 1.87
  • bitget-tokenBitget Token (BGB) $ 1.17
  • thorchainTHORChain (RUNE) $ 4.80
  • notcoinNotcoin (NOT) $ 0.015585
  • theta-tokenTheta Network (THETA) $ 1.59
  • ondo-financeOndo (ONDO) $ 1.07
  • celestiaCelestia (TIA) $ 7.50
  • fantomFantom (FTM) $ 0.523603
  • whitebitWhiteBIT Coin (WBT) $ 10.15
  • coredaoorgCore (CORE) $ 1.60
  • jasmycoinJasmyCoin (JASMY) $ 0.029666
  • based-brettBrett (BRETT) $ 0.144797
  • aaveAave (AAVE) $ 96.06
  • jupiter-exchange-solanaJupiter (JUP) $ 1.05
  • pyth-networkPyth Network (PYTH) $ 0.362569
  • algorandAlgorand (ALGO) $ 0.154142
  • sei-networkSei (SEI) $ 0.397826
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 3,491.58
  • mantra-daoMANTRA (OM) $ 1.33
  • quant-networkQuant (QNT) $ 75.16
  • gatechain-tokenGate (GT) $ 7.85
  • elrond-erd-2MultiversX (EGLD) $ 37.30
  • beam-2Beam (BEAM) $ 0.019801
  • flowFlow (FLOW) $ 0.639259
  • msolMarinade Staked SOL (MSOL) $ 217.49
  • galaGALA (GALA) $ 0.025990
  • kucoin-sharesKuCoin (KCS) $ 9.90
  • axie-infinityAxie Infinity (AXS) $ 6.29
  • bitcoin-svBitcoin SV (BSV) $ 46.30
  • popcatPopcat (POPCAT) $ 0.925395
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,562.05
  • eosEOS (EOS) $ 0.595467
  • flare-networksFlare (FLR) $ 0.020027
  • tokenize-xchangeTokenize Xchange (TKX) $ 11.08
  • ordinalsORDI (ORDI) $ 42.16
  • akash-networkAkash Network (AKT) $ 3.67
  • dydx-chaindYdX (DYDX) $ 1.45
  • ethereum-name-serviceEthereum Name Service (ENS) $ 26.52
  • bittorrentBitTorrent (BTT) $ 0.00000090
  • heliumHelium (HNT) $ 5.02
  • neoNEO (NEO) $ 11.73
  • mog-coinMog Coin (MOG) $ 0.000002
  • ethenaEthena (ENA) $ 0.472082
  • starknetStarknet (STRK) $ 0.604269
  • tezosTezos (XTZ) $ 0.789454
  • roninRonin (RON) $ 2.31
  • the-sandboxThe Sandbox (SAND) $ 0.338428
  • usddUSDD (USDD) $ 0.997345
  • fasttokenFasttoken (FTN) $ 2.30
  • conflux-tokenConflux (CFX) $ 0.171511
  • cat-in-a-dogs-worldcat in a dogs world (MEW) $ 0.008114
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,770.03
  • zksyncZKsync (ZK) $ 0.192895
  • nexoNEXO (NEXO) $ 1.26
  • ecasheCash (XEC) $ 0.000036
  • worldcoin-wldWorldcoin (WLD) $ 2.47
  • gnosisGnosis (GNO) $ 259.35
  • frax-etherFrax Ether (FRXETH) $ 3,491.63
  • pendlePendle (PENDLE) $ 4.24
  • zebec-protocolZebec Protocol (ZBC) $ 0.012981
  • decentralandDecentraland (MANA) $ 0.351377
  • raydiumRaydium (RAY) $ 2.47
  • chilizChiliz (CHZ) $ 0.073431
  • mina-protocolMina Protocol (MINA) $ 0.572045
  • book-of-memeBOOK OF MEME (BOME) $ 0.009401
  • fraxFrax (FRAX) $ 0.997777
  • oasis-networkOasis Network (ROSE) $ 0.095512
  • wormholeWormhole (W) $ 0.344545
  • havvenSynthetix Network (SNX) $ 1.87
  • aioz-networkAIOZ Network (AIOZ) $ 0.551409
  • layerzeroLayerZero (ZRO) $ 5.38
  • sats-ordinalsSATS (Ordinals) (SATS) $ 0.00000028
  • tether-goldTether Gold (XAUT) $ 2,394.79
  • nervos-networkNervos Network (CKB) $ 0.013236
  • iotaIOTA (IOTA) $ 0.174803
  • swethSwell Ethereum (SWETH) $ 3,720.89
  • dexeDeXe (DEXE) $ 10.15
  • apecoinApeCoin (APE) $ 0.847623
  • paypal-usdPayPal USD (PYUSD) $ 0.999823
  • klay-tokenKlaytn (KLAY) $ 0.153311
  • livepeerLivepeer (LPT) $ 16.56
  • astarAstar (ASTR) $ 0.078614
  • safeSafe (SAFE) $ 1.29
  • axelarAxelar (AXL) $ 0.751488
  • staked-frax-etherStaked Frax Ether (SFRXETH) $ 3,819.96
  • 1inch1inch (1INCH) $ 0.426760
  • aerodrome-financeAerodrome Finance (AERO) $ 0.930816
  • true-usdTrueUSD (TUSD) $ 1.00
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000090
  • turboTurbo (TURBO) $ 0.007115
  • zcashZcash (ZEC) $ 32.06
  • illuviumIlluvium (ILV) $ 72.67
  • iotexIoTeX (IOTX) $ 0.051297
  • theta-fuelTheta Fuel (TFUEL) $ 0.072393
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.08
  • dog-go-to-the-moon-runeDOG•GO•TO•THE•MOON (Runes) (DOG) $ 0.004677
  • wemix-tokenWEMIX (WEMIX) $ 1.15
  • aevo-exchangeAevo (AEVO) $ 0.552845
  • kavaKava (KAVA) $ 0.426057
  • stader-ethxStader ETHx (ETHX) $ 3,620.70
  • bitcoin-goldBitcoin Gold (BTG) $ 25.93
  • xdce-crowd-saleXDC Network (XDC) $ 0.030007
  • pax-goldPAX Gold (PAXG) $ 2,397.15
  • project-galaxyGalxe (GAL) $ 3.72
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.05
  • g-tokenGravity (G) $ 0.059089
  • constitutiondaoConstitutionDAO (PEOPLE) $ 0.084107
  • apenftAPENFT (NFT) $ 0.00000043
  • usdbUSDB (USDB) $ 1.01
  • woo-networkWOO (WOO) $ 0.210899
  • manta-networkManta Network (MANTA) $ 1.06
  • h2o-daoH2O Dao (H2O) $ 0.480541
  • singularitynetSingularityNET (AGIX) $ 0.615453
  • mx-tokenMX (MX) $ 4.00
  • arkhamArkham (ARKM) $ 1.60
  • safepalSafePal (SFP) $ 0.826804
  • compound-ethercETH (CETH) $ 70.36
  • memecoin-2Memecoin (MEME) $ 0.016737
  • blurBlur (BLUR) $ 0.214015
  • rocket-poolRocket Pool (RPL) $ 18.25
  • dymensionDymension (DYM) $ 1.92
  • osmosisOsmosis (OSMO) $ 0.538027
  • stepnGMT (GMT) $ 0.157545
  • echelon-primeEchelon Prime (PRIME) $ 8.35
  • aragonAragon (ANT) $ 8.91
  • compound-governance-tokenCompound (COMP) $ 51.82
  • kusamaKusama (KSM) $ 23.03
  • corgiaiCorgiAI (CORGIAI) $ 0.001014
  • golemGolem (GLM) $ 0.348994
  • jito-governance-tokenJito (JTO) $ 2.78
  • ponkePONKE (PONKE) $ 0.628052
  • curve-dao-tokenCurve DAO (CRV) $ 0.281685
  • zilliqaZilliqa (ZIL) $ 0.017907
  • enjincoinEnjin Coin (ENJ) $ 0.201942
  • holotokenHolo (HOT) $ 0.001873
  • dydxdYdX (ETHDYDX) $ 1.45
  • blastBlast (BLAST) $ 0.018313
  • dashDash (DASH) $ 27.57
  • 0x0x Protocol (ZRX) $ 0.382534
  • celoCelo (CELO) $ 0.597438
  • pepecoin-2PepeCoin (PEPECOIN) $ 2.72

Opportunity? Technical indicators point to $64K target for Bitcoin

0 18

The Bitcoin (BTC) market is currently experiencing significant pressure due to large sell-offs from the Mt. Gox exchange and German authorities. Germany is rapidly liquidating its Bitcoin holdings, intending to sell all remaining BTC within two days at the current selling pace, according to analysts.

Recently, 16,038 BTC were transferred from government wallets to various crypto exchanges and market makers, with a total of 26,071 BTC sold since June 19. This leaves only 23,788 BTC in their wallet.

Despite these fundamental challenges, the average cost of Bitcoin mining among the largest public miners in April, approximately $53,000, serves as a crucial support level and an intermediate bottom for the price.

In a July 9 post on TradingView, analyst RLinda provided a detailed breakdown of Bitcoin’s current trends, supported by technical indicators and price movements.

Technical perspective and patterns

From a technical perspective, RLinda has identified a bullish flag pattern forming in the Bitcoin market, indicating a potential upward breakout.

Opportunity? Technical indicators point to $64K target for Bitcoin

The market is experiencing times of high fear and negative sentiment among the crowd, which, from a psychological point of view, could end in bullish momentum.

The price is currently moving within a range of $58,500 to $53,500, suggesting a period of consolidation. Key resistance levels are identified at $58,500 and $64,000, while support levels are at $53,500 and $53,000.

Key observations and recommendations

The recent growth in trading volumes and price stability around the lower boundary of the flag pattern indicates strong buying interest. Buyers are actively holding back a potential fall, forming a sideways range between $58,500 and $53,500.

A breakout of the $58,500 resistance could trigger bullish momentum, potentially targeting $64,000. Conversely, a breakdown below $53,500 may lead to further declines, testing lower support levels around $50,500-$51,000.

Additionally, the market is eyeing the potential approval of the Ethereum ETF, which could rejuvenate investor sentiment and bring a bullish tone back to the market, indirectly benefiting Bitcoin.

For buyers, it is crucial to monitor the $58,500 resistance level closely. A breakout with strong volume could signal potential buying opportunities targeting $64,000.

On the other hand, sellers should be cautious of the $53,500 support level, as a breakdown below this level may signal further declines, providing opportunities to mitigate losses or short-sell.

Bitcoin price analysis

After dropping to around $54,000 in the last 24 hours, Bitcoin has recovered, trading at $57,190 by press time.

Opportunity? Technical indicators point to $64K target for Bitcoin

While the market is fundamentally strained due to large BTC sell-offs by German authorities and the Mt. Gox exchange technical indicators suggest a potential opportunity for Bitcoin.

Despite the challenging fundamentals, RLinda Trading’s technical analysis points to a potential target of $64,000 for Bitcoin if bullish momentum sustains.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Source

Leave A Reply

Your email address will not be published.