Join our Telegram channel for the latest breaking news coverageBitcoin prices have risen 4% in the past 24 hours, trading at $63,521, with trading volume surging 82% to $21.5 billion as of 00:49 AM EST. The gains come after a lackluster June, when Bitcoin prices fell nearly 7%. According to Coinglass, Bitcoin has historically fallen an average of 0.35% in June. But whenever a June downtrend ends, the following month tends to see a significant rebound, with Bitcoin rising an average of 7% in history.
According to analyst Murad on X, Bitcoin has seen a minimum gain of at least 28% in the first few weeks of every July for the past six years. However, other analysts predict that July could be a tough month due to the upcoming Mt. Gox repayment sale.
Bitcoin price has fallen from the $71,809 resistance level to the lower boundary of a bullish triangle pattern over the past month, according to data from GeckoTerminal. BTC price bulls appear to be using the $60,416 support level to propel the coin towards the upper boundary of the bullish triangle.
The price of Bitcoin is trading well above the 200-day Simple Moving Average (SMA), confirming a bullish run in the coming days. However, BTC must break above the 50-day SMA level of $66,499, which is currently an immediate resistance level.
Moreover, the relative strength index (RSI) is rebounding from the 30 oversold level and rising rapidly towards the 50 midline level, showing that current buyers are actively buying in. If the buying pressure increases, the RSI may surge above the 70 overbought area.
BTC price analysis on the 1-day chart shows that BTC is preparing for a sustained long stance on a bullish triangle pattern, with bulls targeting its previous resistance level before the long-term target of $90,000.
In the opposite scenario, if the bears take control of the price and break the critical support level of $60,000, BTC could surge to the next support area of around $58,216, in line with the 200-day SMA.
Meanwhile, as BTC bulls look for more entry points to push the coin higher, investors have flocked to the learn-to-earn platform 99Bitcoins (99BTC), where funds have surged to $2.3 million.
99Bitcoins (99BTC) has been a major pillar of crypto education since its launch in 2013. The platform already has over 2 million registered users taking its courses and over 700,000 YouTube channel subscribers.
The project also integrates BRC-20, allowing dApps to be built on the Bitcoin network.
99BTC token holders can also stake their 99BTC tokens to earn an impressive 722% annualized yield (APY).
You can buy 99BTC tokens for $0.00111 each. The price will increase in less than 23 hours, so buy now to lock in the best deal.
Join the presale and buy 99BTC tokens from the official website using ETH, USDT or bank card.
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