Mark Gill

**Bitcoin Market Update:**

Bitcoin is currently trading around $64,018, facing resistance near $72,000 and support at $59,000, $56,552, and $53,485.

**Key Points:**

- **Resistance and Support:** Bitcoin hit strong resistance around $72,000, causing a recent decline. Key support levels to watch are $59,000, $56,552, and $53,485.

- **Market News:** The recent distribution of Bitcoin from Mt. Gox to creditors has flooded the market, increasing selling pressure and contributing to the price drop

[oai_citation:1,Bitcoin Cash Price Declines by 5% as Mt. Gox Creditors Increase Kraken Withdrawals](techreport.com/crypto-news/bitcoin-cash-price-decl…) [oai_citation:2,Bitcoin News: BTC Price, Markets, Analysis | BitcoinNews.com](bitcoinnews.com/).

- **Volume Trends:** Increased trading volume indicates significant selling activity, reinforcing the bearish trend.

Bitcoin is under pressure due to technical resistance and the impact of large Bitcoin distributions from Mt. Gox. Traders should monitor support levels and stay updated with market news.

1 year ago (edited) | [YT] | 1

Mark Gill

Bitcoin/TetherUS (BTC/USDT) Analysis Summary - July 4, 2024

Current Price: $58,078.00 (-0.28%)

Key Levels:
- Daily Range High: $60,563.23
- Daily Range Low: $56,755.37
- Mid Range: $58,652.07

Observations:
- Price: Currently near mid-range resistance at $58,652.07 after a downtrend.
- Volume: Increased during the decline and partial recovery, indicating high market activity.
- Moving Average: The 30-period moving average is above the current price, suggesting a bearish trend.
- RSI: In the oversold territory, hinting at potential reversal or consolidation.

Scenarios:
- Bearish: Failure to break above $58,652.07 could lead to a drop towards $56,755.37.
- Bullish: Breakout above $58,652.07 might push the price towards $60,563.23.

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Conclusion: BTC/USDT is at a critical point. Watch for a breakout above $58,652.07 for bullish momentum or a failure to indicate further bearish movement. Monitor volume and RSI for confirmation.

1 year ago (edited) | [YT] | 1

Mark Gill

BITCOIN UPDATE
(27-06-24)

BTC/USDT is testing a crucial support level around 59,000. On the daily chart, a break below this could see the price fall to 55,921.79 (0.5 Fibonacci) or lower levels like 51,729.1 and 45,760.6.

The 4-hour chart shows a descending channel, indicating short-term bearishness. If the 59,000 support holds and the price breaks out of the channel, it could target the resistance zone around 70,000-75,000. Overall, BTC’s next move depends on whether it can maintain support at 59,000.

#BitcoinAnalysis #CryptoTrading #BTCPricePrediction

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1 year ago | [YT] | 1

Mark Gill

GOLD (XAU/USD) UPDATE
(27-06-24)

Gold (XAU/USD) is testing a key support zone around 2,300, with recent price action showing a bearish trend. If this support holds, we may see a bounce towards resistance levels at 2,311.77 (23.6% Fibonacci) and higher. However, if it breaks below 2,300, the next support is around 2,280, indicating further downside potential. The market is at a critical juncture, and the next move will be determined by whether the 2,300 support holds or fails.

#GoldAnalysis #TradingView #ForexTrading

1 year ago (edited) | [YT] | 1