Bitcoin

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
The bearish trend continues on the cryptocurrency market, according to <a href="https://u.today/xrp-price-prediction-for-july-4" rel="noopener noreferrer nofollow">CoinMarketCap</a>. <img data-entity-type="file" data-entity-uuid="25b91352-6a1a-471e-96d7-84d45f444023" src="https://u.today/sites/default/files/inline-images/top10_1216.png">Top coins by<a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow"> CoinMarketCap</a>
<h2 class="text-align-justify" id="btc-usd">BTC/USD</h2>
The price of Bitcoin (BTC) has fallen by 2.24% over the last 24 hours. <img data-entity-type="file" data-entity-uuid="32a7ed27-761e-4dbd-9dd2-0f3501f9c298" src="https://u.today/sites/default/files/inline-images/btc1_207.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSDT" rel="noopener noreferrer nofollow">TradingView</a>
Despite today's drop, the rate of BTC is looking bullish on the hourly chart. If the breakout of the resistance of $55,954 happens, there is a chance to see a test of the $57,000 zone tomorrow. <img data-entity-type="file" data-entity-uuid="b4a988cb-afab-4f6a-8fb9-3297f0eab63d" src="https://u.today/sites/default/files/inline-images/btc2_188.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSDT" rel="noopener noreferrer nofollow">TradingView</a>
On the bigger time frame, one should pay attention to the candle's closure in terms of the support level of $53,120. If it happens far from it, one can expect a local bounce back to the <a href="https://u.today/bitcoin-btc-price-prediction-for-july-3" rel="noopener noreferrer nofollow">$58,000 range</a> by the end of the week. <img data-entity-type="file" data-entity-uuid="ebcaad84-2010-42d7-b824-7f23c59bdf3a" src="https://u.today/sites/default/files/inline-images/btc3_186.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSDT" rel="noopener noreferrer nofollow">TradingView</a>
From the midterm point of view, the rate of BTC is near the support level. If the weekly bar closes around the current prices, the accumulated energy might be enough for a breakout below the vital zone of $50,000.
Bitcoin is trading at $55,389 at press time.

Bitcoin (BTC) Price Prediction for July 5

Table of Contents

U_Today

Other articles published on Jul 5, 2024

Tether-Backed Firm Northern Data Sued for Tax Evasion

3 meme coins for up to 2000% gains

Why Is BONK Price Surging Today? Key Factors Behind the 5% Pump

MoonBag’s Upcoming Listing on LBank Confirmed For October 11, 2024: Get Ready for Unmatched Gains!

Cryptocurrency Price Analysis: Bitcoin’s $60,000 Struggle Indicates Shift in Altcoin Market Dynamics

Core Scientific Founder Encourages Bitcoin Community to See Price Drop as Opportunity

Join our free newsletter for daily crypto updates!