Bitcoin price (BTCUSD) gets a negative signal – Forecast today - 07-05-2024

Bitcoin (BTCUSD) Price Analysis

Bitcoin price (BTCUSD) tested the EMA50 that forms good support against the intraday trades, and begins to provide positive trades now, noticing that stochastic overlaps positively to support the chances of continuing the bullish bias in the upcoming sessions, waiting to test 65390.00$ as a first station, noting that breaching this level will push the price towards 67330.00$ as a next main target.

Therefore, our bearish overview will remain valid, noting that breaking 62605.00$ will push the price to decline and test the key support areas 60252.85$ before any new attempt to rise.

Expected Trading Range for Today

• Support: 62200.00$
• Resistance: 66000.00$

Trend Forecast

Bullish