Bitcoin (Bitcoin) A new price indicator is being printed this month-it may only refer to the day of the week.
In the latest Telegram market update on June 30, the cryptocurrency trading company QCP Capital revealed that its “Tuesday Turnover” indicator has captured all the extreme prices of BTC in the past month.
Bitcoin kicked off a month-long “Turnover Tuesday”
According to analysts, although Bitcoin is trading within a predictable range with almost no deviations, it has shown behavioral patterns in recent weeks.
The focus is on the trend of BTC/USD on Tuesday. In the past four weeks, the currency pair has made highs or lows in its range every Tuesday, and this week is no exception.
“So far, the pattern for this month has been the highs and lows of Tuesday’s marked range fluctuations,” QCP comfirmed On Twitter on June 22.
Since then, there has been a short break below $30,000, and this “technical alert” subsequently set $30,000 as support.
“Based on this, we have formed a moderately bullish bias,” the market update concluded.
QCP’s BTC/USD target is slightly lower than 40,000 USD, which has not been achieved after this Tuesday’s high The highest price is $36,630.
Underrated Bitcoin landmarks
As Cointelegraph ReportFor many analysts, Bitcoin’s price trend is out of touch with reality.
related: Institutional investors will not currently buy Bitcoin at 50% of all-time highs…
With multiple indicators showing the “oversold” of BTC/USD, attention is focused on eliminating the selling pressure in the market to allow organic rises to challenge resistance levels.
Suppose this pressure comes from corporate investor In the Grayscale Bitcoin Trust Fund, when it unlocked a large amount of BTC in late July.
At the same time, for QCP, it is Groundbreaking Adoption Announcement From El Salvador, needs more recognition.
“From a broader perspective, we think the market may have underestimated the recent acceptance of cryptocurrencies by sovereign countries (El Salvador and Paraguay),” the update continued.
“These countries may not be very large, but we think this is a watershed in the transition of BTC from a speculative tool to an investment-grade asset.”
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