Bitcoin circles $63K as liquidity sparks hopes of 40% BTC price gains

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Bitcoin analysis hopes that BTC price strength will relish a spike in global liquidity.

BTC/USD 1-hour chart. Source: TradingViewDespite an overall failure to tackle key resistance levels above $64,000, Bitcoin traders had renewed cause for optimism as July got underway.“The goal? To build a foundation from which it will be able to springboard to the Range High area at ~$71500 over time,” he“We just saw a big decrease into a nice move up during this end of the quarter into the new quarter.

“Last time that happened, bitcoin rose ~40% in one week. Not assuming a repeat, but you love to see it.”were constricting to levels only seen a handful of times in Bitcoin’s history — a classic precursor to major breakouts.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

 

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