Ten-day trading range shrinks to $ 33125-35967

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On Tuesday, July 6, at the end of the day, bitcoin rose in price against the dollar by 1.57%, to $ 34,220. The ten-day trading range shrank to $ 33125-35967. The recovery from $ 33,532 took place against the backdrop of a decline in the DXY dollar index. At the time of writing, Bitcoin is worth $ 34,760 against an intraday high of $ 35,059.

Traders and investors on global exchanges are eagerly awaiting the June FOMC meeting minutes, which should give new impetus to currency pairs. The direction of movement of the dollar index will depend on the tone of the protocol. The hawkish tone will support the dollar and the pressure on its competitors.

The SP500 index and gold are trading in positive territory. The dollar index is 92.58. The euro index has updated its minimum and is trying to bounce back from 105.15. It is also important to note that in 15 days the share of bitcoin decreased by 7.49%, to 44.80.

In general, the technical picture for BTC / USD is neutral. Investors have to wait for the release of the protocol (21:00 GMT +3) and see where the dollar will be driven. The DXY is rising, so Bitcoin is under pressure.

Buyers on the way will encounter resistance at 35660, sellers - at 33830. The range is narrowing, so fluctuations of 15–20% should be expected in the coming days.

Posted Using LeoFinance Beta



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