Bitcoin Price Holds Ground But Momentum Keeps Fading Below $31K

Jul 11, 2023 04:00 am Cryptocurrency 133

Bitcoin price is holding the key $30,000 support zone. BTC must settle above $31,000 and $31,400 to start a fresh increase in the near term.

Bitcoin is showing a few positive signs above the $30,000 support zone.

The price is trading above $30,200 and the 100 hourly Simple moving average.

There is a short-term bullish trend line forming with support near $30,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could gain bullish momentum if there is a close above $31,200.

Bitcoin Price Is Stable Above $30K

Bitcoin price started a fresh decline below the $30,500 support zone. However, the bulls were again active above the $30,000 support zone. BTC remained in a range and made another attempt to clear $31,000 but failed.

The recent low was formed near $30,214 and the price is now moving higher. There was a move above the 23.6% Fib retracement level of the recent ..

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