We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

  • TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
  • TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
  • TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood
We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details
This website does not provide services to residents of United States.
Market News BTC Bulls to Retarget $31,500 on Less Hawkish Fed Commentary

BTC Bulls to Retarget $31,500 on Less Hawkish Fed Commentary

This morning, BTC found early support. Following a positive Monday, easing Fed Fear and upbeat price forecasts kept providing early price support.

TOP1Markets Analyst
2023-07-11
8021

微信截图_20230711100753.png


Bitcoin (BTC) increased by 0.59% on Monday. BTC finished the day at $30,467, reversing a loss of 0.36% from the previous day. The $31,000 handle was brought up by BTC for the first time in four sessions.

Bitcoin Price Action (BTC)

BTC was up 0.11% to $30,500 this morning. BTC had a fluctuating start to the day, rising to an early high of $30,552 and then dropping to a low of $30,412.

Daily Graph

The lower level of the $30,750 - $31,250 resistance band was broken by BTC/USD on the Daily Chart before it dropped back to below $30,750.


However, BTC/USD continued to trade above the 50-day ($28,979) and 200-day ($26,388) EMAs, indicating that the long- and short-term trend is bullish. Notably, the 50-day EMA reflected bullish momentum and kept moving away from the 200-day EMA.


Indicating a bullish outlook and aligning with the 50-day and 200-day EMAs, the 14-Daily RSI's reading of 59.28 supported a run at the lower and upper levels of the $30,750 - $31,250 resistance band.

Four-Hour Chart

Looking at the 4-Hourly Chart, the $31,000 psychological level presents significant resistance to the BTC/USD. The 50-day ($30,445) and 200-day ($29,386) EMAs are above the BTC/USD price, sending bullish short-term and long-term signals.


Significantly, the 50-day exponential moving average (EMA) separated from the 200-day EMA, indicating a move through the lower limit of the $30,750-31,250 resistance band with a target price of $31,250.


But if prices dropped below the 50-day EMA ($30,445), the 200-day EMA ($29,386) would come into focus.


The 50-day EMA is aligned with the 14-4H RSI reading of 51.84, which indicates a moderately bullish stance, with buying pressure outweighing selling pressure. Significantly, the RSI predicts near-term bullish momentum and a push for the resistance band between $30,750 and $31,250.

Previous
Next

Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free