بتكوينشراء
BTC - Bouncing Off 3-Week Support Level
Well, BTC decided to fall instead of rise upon completion of the recent triangle (green). But here's the happy part... it bounced off a support level going back 3 weeks to June 10th (red). This should indicate buyers are watching that line and are willing to jump in at it. And it's a rising support line too, which means the recent bull trend is still alive.
Fundamentally things still look good for BTC. The US FOMC is still expected to lower interest rates by a quarter-point at the end of its meeting on July 31, which will put down pressure on the USD and lift BTCUSD. Also, if Trump tweets his customary "really good news" messages at the end of the G-20 summit today or tomorrow, it would give the stock market a boost, which would itself put down pressure on the USD since people would not be looking to cash as a safe-haven as much as they have lately. So the future still looks bright for BTC, which is why buyers keep coming in at key levels. Notice how volume picks up quite a lot when BTC starts to come close to that red support line.
Fundamentally things still look good for BTC. The US FOMC is still expected to lower interest rates by a quarter-point at the end of its meeting on July 31, which will put down pressure on the USD and lift BTCUSD. Also, if Trump tweets his customary "really good news" messages at the end of the G-20 summit today or tomorrow, it would give the stock market a boost, which would itself put down pressure on the USD since people would not be looking to cash as a safe-haven as much as they have lately. So the future still looks bright for BTC, which is why buyers keep coming in at key levels. Notice how volume picks up quite a lot when BTC starts to come close to that red support line.
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