AI Forecast: Bitcoin Worth $34,000 by the End of July?

 The recent positive trend in the market had a positive impact on Bitcoin (BTC) which temporarily exceeded the $31,000 mark. This event has caught the attention of both investors and traders who are eagerly waiting to see if the coin maintains its bullish power in July.

 


A rise above $31,000 is significant for Bitcoin, suggesting a possible continuation of the uptrend. However, the sustainability of this growth is questionable and is the subject of discussion.

PricePredictions using advanced machine learning algorithms to analyze market conditions predicts that Bitcoin will be worth $30,720 in early July 2023. This forecast is based on the following indicators: moving average convergence-divergence (MACD), relative strength index (RSI), moving average (MA) and Bollinger bands (BB).

 Traders and investors are closely watching for support at the level of $29,587 as a potential buying entry point. The resistance level at $31,587 represents a significant threshold that needs to be broken further to confirm a bull trend strengthening.

 A crypto expert under the pseudonym Rekt Capital notes a bitcoin breakthrough from its long-term downtrend which indicates a possible shift in market dynamics and the potential start of a sustainable upward price movement.

 





When BTC breaks a multi-month downtrend

#Bitcoin #BTC #crypto


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