MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Trading Signal for BTC/USD (Bitcoin) for July 01 - 02, 2021: Sell below $35,250

analytics60ddd4e99ab13.jpg

In a 4-hour chart, Bitcoin BTC / USD is trading below the 21 SMA and 200 EMA, adding pressure to the strong 6/8 Murray resistance. The bias is still bearish as shown by the eagle indicator.

On June 29, the cryptocurrency was about to challenge resistance of $ 37,500, it reached a few pips below and failed to consolidate. BTC was also trading above the 200 EMA for a few hours, but the downward pressure took it back below key level of $35,000.

For some traders, this upward movement that we saw was seen as an opportunity to liquidate their losing positions or take profit, and wait for a bottom in the $30,000 zone and then buy again.

In view of the fact that Bitcoin has a strong resistance zone, it is likely that there will be a bearish movement in the next few days to the zone of $31,250.

If the panic takes hold of the market, BTC price could fall to the key support and psychological level of $25,000 that is the 4/8 of murray.

Our outlook suggests that BTC remains bearish in the near term as long as it holds below 6/8 murray. Therefore, any bounce will be an opportunity to sell with targets at $ 30,000 and $ 25,000.

Support and Resistance Levels for July 01 - 02, 2021

Resistance (3) 37,165

Resistance (2) 35,913

Resistance (1) 34,891

----------------------------

Support (1) 32,532

Support (2) 31,285

Support (3) 29,196

The material has been provided by InstaForex Company - www.instaforex.com