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- 📢 Exclusive on Gate Square — #PROVE Creative Contest# is Now Live!
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Bitcoin (BTC) is looking for direction at 30 thousand dollars!
22.07.2023 My Current Analysis of Bitcoin
Cryptocurrency markets are flat over the weekend. Bitcoin (BTC) is trading around $30,000. While the low volume in the market continues, the outcome of the Fed's interest rate decision is eagerly awaited next week.
The crypto market cap is hovering around $1.2 trillion.
The leading cryptocurrency Bitcoin is trading at low volumes and in a tight range. Concern about the Fed's interest rate decision continues in the market.
At its meeting on July 26, the Fed is expected to raise rates by 25 basis points. The possibility of a 50 basis point rate hike by the end of the year is still on the table.
BTC is trading at $ 29,895 as of 13.45 with TSI.
Bitcoin (BTC) started the day around $29,917. BTC, which saw the lowest $ 29,860 during the day, reached the highest $ 30,003.
According to the BTC/USD chart, if BTC continues its upward movement, the first resistance levels it will encounter will be $30,000 to $30,250. If BTC holds above this level, the $30,400 journey will begin. If the upward movement continues, $ 31,250 will be watched.
The Bitcoin Greed and Fear Index is in the greed zone with a score of 50.
If BTC continues its downward movement, $29,600 appears as the first support level. If the decline continues, moves around $29,200 will be followed. Downside move to watch around $28,800
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