$30,000 Bitcoin Price: Will It Pass the Critical Test Amidst Economic Events?

By Lola Coin Jun 26, 202356Views

The current price of Bitcoin is causing speculation about its next move, as it hovers around the $30,000 mark. There is uncertainty about whether it will hold as support or if a more significant battle is unfolding. Recent charts show a surge above $30,000 followed by a slight pullback. Multiple support levels have been identified, including significant volume support at $29,300 and levels at $28,500 and $28,000. A potential scenario involves a pullback to $28,000, a breakout to $35,000, a retracement to $30,000, and finally a surge to $40,000. The market is also anticipating the release of US economic data and remarks from Federal Reserve Chair Jerome Powell, which could impact Bitcoin’s sentiment and price volatility. The significance of a monthly close around $30,000 and the probability of a rate hike in July add to the uncertainty. Investors are advised to exercise patience and closely monitor the market conditions.

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