Bitcoin price takes a dump below $9000, uptrend ahead?

The Bitcoin price line turned bearish and fell down to the $8956 mark on the 2nd of July, leaving the altcoin market bearish as well. At the time of writing the king of cryptocurrency has managed to get back above the $9000 mark while crypto analysts on TradingView believe that the BTC price will see an uptrend across the $9400 mark soon.

1-Day Bitcoin price analysis (2nd July)

Bitcoin price chart by Trading View

BTC traded at $9091.99 US Dollars at the time of writing, while the days low as seen at $8956.08 mark albeit for a very brief time. Since the fall BTC price has been trading in the $9040 and $9120 range.

What to expect from Bitcoin price?

Lingrid, the TradingView analyst, is of the opinion that the BTC price line will see growth after its recent fall towards the support line.

Bitcoin price chart by Trading View

The analyst drew a declining trendline over the BTCUSD pair’s movement from the 3rd of June till the 2nd of July. The price line has been able to reach the support level at the $9067 mark.

Lingrid was of the opinion that the descending trendline has been broken and the price line has approached the support level, which is why BTC price may now rise across the $9400 mark.

A dynamic support line for the BTCUSD pair

Rocket Bomb is a TradingView analyst who believes that the BTCUSD pair has moved in a good trading zone for it to see an uptrend soon.

Bitcoin price chart by Trading View

Rocket Bomb had highlighted a breakout below the uptrend line for the BTCUSD pair on the 1D charts. The analyst drew another dynamic support line which has traveled below the trading pair since after the 28th of April when the cryptocurrency’s price line rose across the $8700 mark.

As per the chart above, the dynamic support is expected to lead the price towards the $9620 mark, followed by the $9880 level in a long trading trend.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.