Over the past several days, the price of Bitcoin has been oscillating in a range that is not too far apart. The lowest point reached was $30,206 BTC/USD, and the highest point was $31,378 BTC/USD. These prices were influenced by the news of BlackRock's Bitcoin ETF, which generated interest from various investment management companies.
Recently, BlackRock, the world's largest asset manager, submitted additional documents to the U.S. Securities and Exchange Commission (SEC) in support of their application for a Spot Bitcoin ETF. The purpose of these documents is to provide clarity on the surveillance sharing agreement (SSA). This development has increased expectations for the market and the possibility of SEC approval for the ETF.
If this ETF is officially approved by the SEC, it would attract billions of dollars from institutional investors and various sources, flowing into the cryptocurrency market. Additionally, the Bitcoin Halving event scheduled for next year would also contribute to the rapid increase in Bitcoin's price.
The total market capitalization of all cryptocurrencies is currently at $1.22 trillion, with Bitcoin accounting for 49.65% of it. This represents an increase from the previous percentage of 1.29%. The trading volume is at $37.6 billion, with a significant increase of 26.39%.
In addition to the previous information, Santiment, a cryptocurrency data analysis company, has found that Bitcoin holders have been accumulating the cryptocurrency at a higher rate than usual over the past seven weeks. Santiment stated that both large and small Bitcoin holders, with holdings of over 1,000 BTC and 10 BTC, respectively, have accelerated their Bitcoin purchases significantly following BlackRock's attempts to register a spot Bitcoin ETF.
According to Santiment, the data mentioned above indicates that these two groups of investors have collectively purchased over 154,500 BTC, worth up to $4.75 billion, since late April. Santiment further added, "As long as both large and small holders continue to accumulate Bitcoin with large buys over the past two weeks, the surge in Bitcoin and other altcoin prices may continue into July."
Looking at the Crypto Fear & Greed Index, it is currently at a level of 64, indicating "Greed." This is an increase from the previous day's level of 62 and consistent with the level observed on June 25 when the price of Bitcoin was around $31,000. Given the significant increase in Bitcoin's price, it is not surprising that the Fear & Greed Index has also risen.
Resistance: 30609.4, 30699.7, 30823.4
Support: 30395.4, 30271.7, 30181.4
Source: Investing.com| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | 30181.4 | 30271.7 | 30395.4 | 30485.7 | 30609.4 | 30699.7 | 30823.4 |
| Fibonacci | 30271.7 | 30353.4 | 30404.0 | 30485.7 | 30567.4 | 30618.0 | 30699.7 |
| Camarilla | 30460.2 | 30479.8 | 30499.4 | 30485.7 | 30538.6 | 30558.2 | 30577.8 |
| Woodie's | 30198.0 | 30280.0 | 30412.0 | 30494.0 | 30626.0 | 30708.0 | 30840.0 |
| DeMark's | - | - | 30440.5 | 30508.2 | 30654.5 | - | - |
Buy/Long 1: If the price touches the support level in the range of 30,271.7 - 30,395.4 but fails to break the resistance at 30,395.4, you may consider setting a TP around 30,699.7 and a SL around 30,181.4 or based on your acceptable risk level.
Buy/Long 2: If you manage to break the resistance level in the range of 30,609.4 - 30,699.7, you might consider setting a TP around 30,823.4 and a SL around 30,271.7 or based on your acceptable risk level.
Sell/Short 1: If the price touches the resistance level in the range of 30,609.4 - 30,699.7 but fails to break the resistance at 30,609.4, you may consider setting a TP around 30,271.7 and a SL around 30,823.4 or based on your acceptable risk level.
Sell/Short 2: If you manage to break the support level in the range of 30,271.7 - 30,395.4, you might consider setting a TP around 30,181.4 and a SL around 30,699.7 or based on your acceptable risk level.
| Name | Value | Action |
| RSI(14) | 53.244 | Neutral |
| STOCH(9,6) | 96.639 | Overbought |
| STOCHRSI(14) | 44.503 | Sell |
| MACD(12,26) | -12.600 | Sell |
| ADX(14) | 34.329 | Buy |
| Williams %R | -2.792 | Overbought |
| CCI(14) | -32.8492 | Neutral |
| ATR(14) | 323.0714 | High Volatility |
| Highs/Lows(14) | 0.0000 | Neutral |
| Ultimate Oscillator | 54.202 | Buy |
| ROC | 0.483 | Buy |
| Bull/Bear Power(13) | -48.5460 | Sell |
|
Buy:3 Sell:3 Neutral:3 Summary:Neutral |
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