In recent weeks, the Bitcoin price has been moving in a narrow band between $29,000 and $30,000. This activity is attracting the attention of analysts with expectations that the price could drop to $28,000.
The observed stability of the cryptocurrency during this period is due to its reduced relevance to the stock market and its limited reactions to economic news.
Bitcoin's Future: Stable, But In Which Direction?
Currently, Bitcoin is trading at $29,404. The price bounced back from a key support point at $29,000. After breaking past the 50-day Exponential Moving Average (EMA) resistance, an upside move is considered more likely.
MACD movement also supports this upward expectation. For investors, the moment the blue MACD line crosses the red signal line may be a good time to invest in BTC.
A bullish rectangle appears on the current charts, indicating that the Bitcoin price is preparing for an upward move.
This pattern indicates that Bitcoin will continue its uptrend after moving sideways within a certain range. If the price exceeds the upper limit of this rectangle, it indicates that the bull trend will continue.
However, an important note for investors: the height of this pattern can be used as an indicator to predict how high the price can rise. In this context, investors may consider buying when Bitcoin breaks the $31,450 resistance and plan to sell when the price reaches $33,911.
During the formation of this rectangular pattern, investors can take action as Bitcoin breaks above the 50-day EMA at $29,346. However, if the $29,000 support point is broken, there may be concerns that Bitcoin may stall the upward move.
What Does the Miners' Activity Say?
Rumors that Blackrock, one of the leading financial institutions, may enter the crypto market continue to increase. At the same time, there are expectations that the Securities and Exchange Commission (SEC) may introduce new regulations for the crypto market.
According to CryptoQuant data, if token transfers and transaction speed increase along with the price, this could be a sign of an uptrend.
PLEASE READ CAREFULLY FOR A GIFT OF 10 DOLLARS.
My friends, you know that we, the publishers, are doing everything we can for you here. We are informing you about the services and facilities offered to us by our authorities. I have never stopped supporting both the Cryptocurrency market and you as much as I could, and on the contrary, I am trying to provide more support.
Now I will tell you how to receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.
So who will benefit?
Our friends who have not activated the futures section yet, while activating your FUTURES trading section, you will earn 10 dollars when you open it by entering my reference code 88623008.
I EXPLAIN IN DETAIL.
My brothers and sisters who have become a Binance member without reference, please listen carefully;
When you do what I say, you will receive 10 USDT.
Enter the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
My brothers and sisters who want to complete this transaction and receive the 10 USDT reward until August 16 can do so. After activating your account, you only need to open a transaction once. However, even if you do this after August 16, your reward will not come. That's why I say get it done in 5 seconds.
THE SYSTEM WORKS ON A FIRST COME, FIRST SERVE BASIS. SO GET YOUR GIFT BEFORE IT'S LATE.
WHEN WILL THE AWARD COME?
Your 10 dollar reward will arrive in the REWARD section of your Binance application within 14 business days, starting from August 16. By activating it from there, you can use your reward of 10 dollars, or more than 250 liras, in futures transactions.
You can share this post with your friends in need so they can benefit from it, too.
https://www.binance.com/tr/activity/marketing-campaign/9560659da92844b29cdc9b4fdde1ea9d?_dp=L3dlYnZpZXcvd2Vidmlldz90eXBlPWRlZmF1bHQmbmVlZExvZ2luPWZhbHNlJnVybD1hSFIwY0hNNkx5OTNkM2N1WW1sdVlXNWpaUzVqYjIwdmRISXZZV04wYVhacGRIa3ZiV0Z5YTJWMGFXNW5MV05oYlhCaGFXZHVMemsxTmpBMk5UbGtZVGt5T0RRMFlqSTVZMlJqT1dJMFptUmtaVEZsWVRsaw==
You can find the details from the link above.
BY THE WAY, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. IF YOU HAVE NOT FOLLOWED YET, DON'T FORGET TO FOLLOW. KIND REGARDS.