Bitcoin Price Prediction July 4, 2024

 Accurate Previous Prediction

Before we dive into today's analysis, I'd like to make a brief point and emphasize that our last prediction on June 24 was completely accurate. While the majority of analysts were predicting a bullish recovery towards $65,000, we were the only ones who understood that Bitcoin would experience a significant drop to the $56,800 support level. With that said, let's move on to our current outlook for Bitcoin's future price.

Current Market Analysis

The situation right now is not as clear as it was on June 24. Currently, we believe that Bitcoin's price could fall back to $56,750, which is the support level we identified some time ago. For this reason, $56,750 is our short-term target for Bitcoin. However, the main question we have at the moment is whether liquidity will start to appear around $58,000. We don't know exactly when this liquidity will come in, but we can use macroeconomic factors to our advantage. For all the traders wondering if today will be the day that significant liquidity enters the market, it's important to note that today is a national holiday in the United States, meaning that the stock markets are closed. This typically slows down price fluctuations in Bitcoin (although this is only relevant for predicting today's market on July 4).

Short-Term and Medium-Term Scenarios

Bitcoin's price is getting closer to those levels where it could start finding liquidity and rebound upwards (we're referring to $56,750). However, it's also important to note that if the liquidity we've discussed in this post doesn't materialize at $56,750, we may need to reassess our bearish targets (a scenario that is probable and should be considered).

Key Takeaway for Readers

In summary, I want readers to understand this key concept: previously, we were very certain that Bitcoin was headed for a significant downward decline (which indeed happened). Now, we are introducing the idea of a potential upward rebound because, as mentioned in this post, liquidity could start coming in at the $56,750 and $58,000 levels.

However, there is also the possibility that no capital will enter at $56,750, and we may head towards new bearish supports like $51,000. When we say that Bitcoin could reach $51,000, it's a medium to long-term scenario. It's not something that will happen overnight; it could take weeks or even longer.

Conclusion

As the days go by, we will see if that liquidity has finally been achieved, and we will be able to determine the next price supports.

At this point in the article, I want to clarify that nothing I write in this post is investment advice. Rather, it is my opinion on what I personally believe Bitcoin will do today. With that said, let's continue.