Foreign sources cite the analysis of the encrypted trader DonAlt that bitcoin is reaching a critical position in the medium term. The current price fluctuates between $6.25 million and $6.35 million, with partial restorations after the June fallback, but the market needs to focus more on where the July line will end up.

$61,000 in moon line watersheds

According to the article, $61,000 is the most important observation point for the moment. If the July line is above this level and is as high as possible, this means that the buyout is still supporting the current structure and that the consolidation phase is likely to continue to form the basis for a new round in the near future.

On the contrary, if the monthly line is collected at or below $61,000, then the round of rebounds is more likely to be only a brief repair in the course of the fall, and the market may still face a new set of pushovers.

  • Current areas of concern: $6.25 million to $6.35 million
  • Key moon position: $61,000
  • Main support below: approximately $45,000

After default or looking at $45,000

According to this review article, once $61,000 is lost, the next more important historical support area for Bitcoin could be near $45,000. This position is considered by the article to be the main reference area in a deeper context.

This pricing judgement will also affect the market for the mountain currency, especially the XRP. The article mentions that the XRP has fluctuated considerably in the past several times, often at a level of stability or continued strength of bitcoin. If Bitcoin can hold the key back and enter the cross-boarding, part of the liquidity may be diverted to the Shancoon, offering a partial rebound.

However, if bitcoin continues to search, XRP and others may be under pressure, and recent attempts to organize around high places have been interrupted.

The Fed's meeting at the end of the month was under review.

In addition to the price itself, the macro events at the end of the month were seen as short-line catalytic factors. The Fed will hold a two-day conference from 28 to 29 July, and interest rate decisions, as well as a post-President Powell statement, will usually influence the direction of risk assets, including encrypted assets.

The article argues that the buyer ' s ability to hold on to $61,000 before the outcome of the meeting will determine whether the market will face a deeper adjustment in August. Overall, this external review lists the July Moon Concealment with the Fed as one of the two variables of the greatest interest for bitcoin in the short term.