Market Analysis of Bitcoin on Friday 2 July 2021

2021-07-02 14:35Source:BtcDana

Bitcoin continued to weaken in the Asian session on Friday and is currently nearing $33,100. Data: Recently, there are 28 blocks in Bitcoin with block intervals of more than 1 hour. Bitcoin Mining Committee: Continuous Bitcoin mining strength increased to 56% in Q2; Lightning Network's public channel capacity hit a record high of 1,651 BTC. The number of active Bitcoin addresses has dropped to a new low since April 2020. From a technical point of view, Bitcoin's daily line continues to close bearish, the trend is still weak. The short-term increase is just a rebound. The H4 chart corresponds to the expected fluctuation in the interval. However the longer the market is sideways, the worse it is for market choosing its direction. The longer the sideways market, the lower is the market confidence. Overall, prioritize Sell on High on the fluctuation zone. The deciding point whether to buy or sell is near 32400

https://asset.ycxfy.com/upload/file/1625155200000/1625211095382.png

Resistance:34000-35000-36500

Support:32500-31200-30000


This material is from Quant Tech Limited and is being posted with permission from Quant Tech Limited. The views expressed in this material are solely those of the author and/or Quant Tech Limited and BTCDana is not endorsing or recommending any investment or trading discussed in the material. Before acting on this material, you should consider whether it is suitable for your circumstances and as necessary, seek professional advice


More