Bitcoin price (BTCUSD) suffers more losses – Forecast today – 04-07-2024

Expected Scenario

• Bitcoin price (BTCUSD) opens today’s trading with new strong decline to achieve our first waited negative target at 58200.00$, waiting for more decline to head towards 56160.00$ that represents 50% Fibonacci correction level for the entire rise measured from 38500.56$ to 73817.92$.
• Therefore, we expect the continuation of the bearish trend domination in the upcoming sessions, organized inside the bearish channel that appears on the chart, noting that breaching 60330.00$ will stop the expected decline and push the price to build bullish wave that targets testing 63260.00$ areas initially.

Expected Trading Range

Between 56160.00$ support and 60330.00$ resistance.