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BTC, DOGE and SHIB Price Analysis for July 4

Mon, 07/04/2022 - 15:41
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Denys Serhiichuk
Is the current bounceback a prerequsite for a continued rise?
BTC, DOGE and SHIB Price Analysis for July 4
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The first week of July has begun with the rise of the cryptocurrency market as all of the top 10 coins are in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has increased by 2.76% over the last 24 hours.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Bitcoin (BTC) has continued its local growth after the false breakout of the $19,000 mark. However, the buying trading volume is low, which means that it might not be easy for bulls to keep the rise going.

Related
BTC, SOL and AVAX Price Analysis for July 2

Thus, the price has not crossed $20,000, which is crucial for a mid-term bull run. All in all, the more likely scenario is sideways trading around $20,000 for the next few days.

Bitcoin is trading at $19,558 at press time.

DOGE/USD

DOGE is the biggest gainer today, going up by 3.52%.

DOGE/USD chart by TradingView
DOGE/USD chart by TradingView

Despite the growth, DOGE has not returned above the $0.07 mark yet, which means it is to early to think about a fast recovery. In addition, the volatility has declined, confirming the fact that the altcoin has not accumulated enough for a growth or decline. Respectively, one should not expect any sharp moves from DOGE in the near future.

DOGE is trading at $0.06737 at press time.

SHIB/USD

SHIB has followed the rise of DOGE, growing by 3.16% since yesterday.

SHIB/USD chart by TradingView
SHIB/USD chart by TradingView

SHIB is trading similar to DOGE as the meme coin is accumulating power after a bounceback. If the price can fix above $0.00001 and return to $0.00001050 shortly, bulls have the chance to seize the initiative and start the mid-term rise.

SHIB is trading at $0.00001016 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.