Bitcoin(BTC/USD) Daily Chart Analysis For Week of July 5, 2024
Technical Analysis and Outlook:
Bitcoin has retraced to our pre-established completed Inner Coin Dip level of 59000, Outer Coin Dip of 57000, and current Outer Coin level of 54000. We anticipate a recovery from this landmark move, with a target to attain the Mean Resistance at 57900 and extend to the Mean Resistance at 60400. Conversely, our principal downside objectives encompass a retest of the completed Outer Coin Dip 54000 and potentially the subsequent Outer Coin Dip 51000.
Bitcoin has retraced to our pre-established completed Inner Coin Dip level of 59000, Outer Coin Dip of 57000, and current Outer Coin level of 54000. We anticipate a recovery from this landmark move, with a target to attain the Mean Resistance at 57900 and extend to the Mean Resistance at 60400. Conversely, our principal downside objectives encompass a retest of the completed Outer Coin Dip 54000 and potentially the subsequent Outer Coin Dip 51000.
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