Every day, find our analysis of the price of Bitcoin (BTC) with an update on its evolution and the main information to remember. On this Friday, July 28, 2023, the last economic announcement of the week could well precipitate the BTC like yesterday towards the continuation of its correction. The point in this analysis.
Only 3 days left to close July in the green
The month of July will have been complicated for Bitcoin, which is currently down -3.67% over 1 month.
Still trapped below the Tenkan, Kijun and Cloud of the Ichimoku indicator, Bitcoin is expected to continue its correction to $28,350 in the next few hours following the breakout of its right-angled ascending broadening pattern (in yellow) .
We note that the Chikou Span is coming into contact with the prices (resistance), which means that they could soon continue their fall.
After another major rejection yesterday on the economic results linked to unemployment claims in the United States, the BTC seems to be starting to fall again with a minimum objective of a 50% retracement of the entire last rise at $28,350.
It will be imperative that the price manages to get back above the SSB flat at $30,600 to invalidate our bearish scenario and give way to a potential new bullish impulse.
