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Bitcoin (BTC) Price Prediction for July 3

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Bear pressure continues, according to Coin Statistics.

BTC Chart of Coin Statistics

BTC/USD Exchange Rate

The price of Bitcoin (BTC) has dropped by 3.25% in the last day.

Image of Trading View

Despite today’s decline, BTC rate continues to look bearish as it heads towards the local support level of $59,544.

If the daily bar closes below the vital $60,000 zone, a test of $58,000 is highly likely to be expected.

Image of Trading View

Sellers are also more powerful than buyers in the daily time frame. If the situation does not change until the end of the day and the bar closes near its low, the decline is likely to continue to the support of $56,500.

Image of Trading View

From a medium-term perspective, there are no signs of a reversal yet. If buyers fail to take the initiative in the short term, traders can expect a breakout of the support, followed by a move to the $55,000 range.

At press time, Bitcoin is trading at $60,311.

About the author

Denys Serhiichuk

With over 5 years of trading, Denys has a deep understanding of both technical and fundamental market analysis. Mainly, he started his own blog on TradingView, where he publishes all the relevant information and makes predictions on the major coins.
Therefore, his experience is supported by work in major blockchain-related companies such as W12, Platinum Listing, ATB Coin and others; he can be reached at denys.serhiichuk@u.today.

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