Bitcoin (BTC) Technical Analysis: Bitcoin Strength

American session, date: 7/8/2024

Introduction and overview

This report provides a technical analysis of the Bitcoin currency BTCUSD during the American session, focusing on trading strategies based on resistance and support levels, currently trading at the level of $57420. Prices are trading above most of the moving average intersections, indicating a weak downtrend direction, and the MACD indicator shows a weak negative trend, which enhances the positive possibilities.

Bitcoin (BTC) Technical Analysis

Trading strategies based on Buy/Sell levels

BTCUSD In case of buying in case of selling
Entry point 58115 56200
Target Point 1 (TP1) First resistance: 58975 First support: 55536
Target Point 2 (TP2) Second resistance: 59320 Second support: 54792
Stop Loss (SL) 56200 58115



The technical analytical study of this data showed clear results indicating the main trends and changes in the market. The technical indicators used and graphical analysis highlight the relative strength of the assets studied, and help identify potential investment opportunities and associated risks. This technical analysis reflects the importance of integrating modern tools and technologies into the investment decision-making process to enhance efficiency and accuracy. In light of these results, investors can improve their strategies and achieve better performance in the financial markets.

Related Articles