• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Economy

Bitcoin price makes a new pullback below the $58000 level

by July 12, 2024
written by July 12, 2024

Bitcoin price makes a new pullback below the $58000 level

Yesterday’s attempt by the price of Bitcoin to reach $60,000 was stopped at the $59,500 level. 

Bitcoin chart analysis

Yesterday’s attempt by the price of Bitcoin to reach $60,000 was stopped at the $59,500 level. We had two bullish attempts in the previous two days, and both stopped at $59500. Yesterday, we saw the initiation of bearish consolidation from that level. The price fell below $58000 and below the EMA 200 moving average. The fall was stopped at the $57,200 level last night.

This morning, we were under new pressure, and the price of Bitcoin took another bearish step to the $56551 level. After this support at that level, a positive consolidation up to $57300 was initiated. We need a continuation of $57600, which would be supported by the EMA 50 moving average. If we succeed in that, the next target is the $58,000 level and the EMA 200 moving average. With one more impulse, the chances of getting moving average support to continue to the bullish side would increase.

 

The price is under pressure now, again below the EMA 200 moving average.

Potential higher targets are $58500 and $59000 levels. For a bearish option, the price of Bitcoin would first have to drop to this morning’s support level of $56500. We will initiate a pullback below the $56,000 level if we fail to hold above. We are nearly testing the weekly open price at the $55830 level. Support would mean a lot to her because they would stay on the positive side.

There’s potential for a bullish scenario in Bitcoin’s price movement. A break below would negatively impact Bitcoin’s price. After that, we can only expect a further pullback and testing of lower support levels. However, potential lower targets are $55,000 and $54,500. This week’s low price is $54296.

 

The post Bitcoin price makes a new pullback below the $58000 level appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
The price of Ethereum is losing momentum at the $3200 level
next post
Gold and silver: the price of gold rose to $2424 yesterday

related articles

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Buy Bitcoin Under $100K Before The Next Bull...

April 22, 2025

BNB Price Surge Leads Crypto Gains as Bitcoin...

April 21, 2025

Fed’s Stagflation Warning Impacts Crypto Markets

April 21, 2025

Bitcoin Slips to $83.6K Amid Nvidia’s $5.5B Charge

April 21, 2025

Gold Price Surge Hits $3,385 Amid Trade Tensions

April 21, 2025

Bitcoin Rebounds to $83,404 Amid Renewed Investor Confidence

April 21, 2025

Memecoins, AI, and DeFi Tokens Lead Crypto Rebound

April 21, 2025

Bitcoin Nears $85K Amid Market Optimism

April 21, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Netanyahu to meet Trump as Israeli leader looks to rekindle relationship

    July 26, 2024
  • Essence Fest leads a summer of events for Black entrepreneurs galvanized by economic uncertainty

    July 4, 2025
  • South African-born Musk evoked by Trump during meeting with nation’s leader: ‘Don’t want to get Elon involved’

    May 21, 2025
  • Government shutdown, Epstein files, DC crime: Congress returns to mountain of drama

    September 2, 2025
  • Modern Trade vs General Trade Management

    August 19, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,285)
  • Investing (634)
  • Stock (936)

Latest Posts

  • Susan Collins vows to oppose Trump FBI director nominee Kash Patel ahead of critical vote

    February 20, 2025
  • Trump urges US to stay out of Syrian civil war, blaming Obama for failure as Islamists close in on capital

    December 7, 2024
  • Trump admin cracks down on groups tied to Iran targeting US citizens, sanctions Iranian-linked Swedish gang

    March 14, 2025

Recent Posts

  • Bitcoin ETF open interest dips 5% to $29.47B as BTC holds near $102.9K

    May 19, 2025
  • Trump-backed bills targeting activist judges, noncitizen voting head for House-wide votes

    April 1, 2025
  • Trump says Zelenskyy can ‘come back when he is ready for Peace’ after fiery White House exchange

    February 28, 2025

Editor’s Pick

  • Trump ‘agreed’ on shutting down USAID, Elon Musk says

    February 3, 2025
  • Trump State Department declares Tren de Aragua, MS-13, Mexican drug cartels as foreign terrorist organizations

    February 20, 2025
  • First on Fox: Republican senators urged to ‘go on offense’ on DOGE goals, highlight work with Trump, Musk

    March 24, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock