Bitcoin Stalls Near Resistance; Support at $33K-$34K

July 7, 2021

Bitcoin (BTC) held support around $34,000 on Tuesday, but buyers took some profit just shy of the $35,000-$36,000 resistance zone. The cryptocurrency is up about 2% over the past 24 hours and remains in a tight trading range.

Buyers could defend support levels and attempt to break the 50-day moving average around $36,000. A breakout from the trading range would yield further upside towards $40,000 as momentum improves.