{"id":134803,"date":"2024-08-02T18:00:12","date_gmt":"2024-08-02T15:00:12","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=134803"},"modified":"2024-08-02T16:55:54","modified_gmt":"2024-08-02T13:55:54","slug":"bitcoins-next-moves-analyst-reveals-key-support-and-resistance-levels","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/bitcoins-next-moves-analyst-reveals-key-support-and-resistance-levels\/","title":{"rendered":"Bitcoin&#8217;s Next Moves: Analyst Reveals Key Support and Resistance Levels"},"content":{"rendered":"<p>This decline is related to lowered expectations of a US interest rate cut and the <a href=\"https:\/\/cryptodnes.bg\/en\/mt-gox-distributes-assets-to-17000-creditors-as-bitcoin-price-drops\/\"><strong>distribution of<\/strong><\/a> over 47,000 <a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\"><strong>BTC<\/strong><\/a> from the defunct Mt. Gox exchange.<\/p>\n<p>Traders are now watching key support and resistance levels to identify potential buying opportunities.<\/p>\n<p>Analyst Stockmoney Lizards notes that Bitcoin is approaching a critical point, representing a potential entry point for investors. His technical analysis highlights a classic 5-wave uptrend, followed by an ABC retracement on the 4-hour chart, indicating a typical Elliott wave pattern.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/5-things-you-didnt-know-about-bitcoins-market-performance\/\" title=\"5 Things You Didn&#8217;t Know About Bitcoin&#8217;s Market Performance\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/07\/pexels-bitcoin-currency-3341504_1280-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">5 Things You Didn&#8217;t Know About Bitcoin&#8217;s Market Performance<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<h2>Key Support and Resistance Zones<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-123060\" src=\"https:\/\/cryptodnes.bg\/wp-content\/uploads\/2024\/08\/313131stockmoney.jpeg\" alt=\"\" width=\"1554\" height=\"827\"><\/p>\n<p><strong>Support levels<\/strong><\/p>\n<p>The immediate buy zone is set between $61,880 and $62,300. A bounce from this range could signal a continuation of the uptrend. If this support fails, the next significant level to watch is around $56,810.<\/p>\n<p><strong>Resistance levels<\/strong><\/p>\n<p>On the upside, Bitcoin faces resistance at $66,745. A break above this level, on strong trading volume, could indicate the next buying opportunity. The top of the value zone at $69,885 also remains a key resistance point.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On August 1, Bitcoin (BTC) fell to below $63,000, marking its lowest level in more than two weeks.<\/p>\n","protected":false},"author":3,"featured_media":90251,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27],"tags":[],"class_list":["post-134803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin&#039;s Next Moves: Analyst Reveals Key Support and Resistance Levels<\/title>\n<meta name=\"description\" content=\"On August 1, Bitcoin (BTC) fell to below $63,000, marking its lowest level in more than two weeks.\" 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