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Bitcoin Rebounds Below $60K Support

Written By: ChartChamp

July 10, 2024

This is exactly what I want to see from Bitcoin. The price needs to rebound back above $60k support as quickly as possible. We are seeing a swift rebound forming, but there is resistance in the white zone between $58,200 and $60,200. I think we would already be at $60k if Germany’s government didn’t keep gradually selling. Bitcoin was trading above $59k last night, but has dropped back down to $57.8k. The good news is that Ethereum and Altcoins have rebounded and continue to show strength.

After the Bitcoin halving BTC has historically performed very well between July and September. In the blue box are the significant gains BTC has experienced each of the previous cycles. We could see a similar run up between now and September.

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