Can BTC still rise in July as the market begins to decline again

Coin World News Report:
In the latest analysis of the BTC four-hour chart, the price of Bitcoin continues to show a bullish trend.
However, it is currently facing important resistance levels that traders need to closely monitor.


The recent closing price of Bitcoin has shown a consolidation pattern, hovering between $62,600 and $63,200.
Both the 9 and 20 exponential moving averages (EMA) are trending upwards, indicating a continued bullish sentiment.
The 9 EMA is at $62,748, higher than the 20 EMA, which is at $62,362.
This consistency typically indicates a short-term bullish trend, reinforcing the view that buyers are currently in control.
The technical indicators and price trends of Bitcoin indicate that the bullish momentum will continue, but it faces significant resistance levels that may limit the upside in the short term.
Traders should closely monitor these levels and be prepared to adjust their strategies based on the movement of Bitcoin.


Bitcoin [BTC] has emerged from a difficult June and has started a new chapter this month.
In the past 30 days, BTC has dropped by 8.44%.
The king coin even fell below $60,000, driving investors crazy. But recovery is not far away.
At the time of writing, the BTC trading price is $62,293, with a daily decrease of 0.46%.
The asset is currently 14% lower than its all-time high of $73,750. The real question is whether this king coin can set a new historical high this month.


According to Changelly’s data, the average trading price of Bitcoin in July was $69,030.74.
The asset could potentially surge to a high of $74,720.48, surpassing Bitcoin’s all-time high.
Bitcoin is expected to reach this level around July 8th to July 10th.
Catalysts for the rise of Bitcoin
A major indicator of investor optimism is the amount of funds flowing into Bitcoin ETFs.
On July 1st, the investment in US-listed exchange-traded funds [ETFs] for Bitcoin approached $130 million. This is the highest amount since early June.
Prior to this, over $900 million in funds flowed out in June.
This reversal is seen as a strong sign of confidence in Bitcoin’s positive prospects for the coming weeks.
QCP Capital, based in Singapore, further stated, “The average return rate for Bitcoin in July is 9.6% and tends to have a strong rebound, especially after a negative growth of 9.85% in June. Our options department has also found that funds have been flowing upward from last Friday to the end of the month, possibly due to the expected launch of ETH spot ETF. Many signs indicate a bullish July.”
If history repeats itself and market sentiment remains positive, Bitcoin is expected to enter a bull market. The king coin may even set a new all-time high.