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On Saturday, bitcoin (BTC<\/a>) slipped by 0.14%. Following a 1.53% gain on Friday, BTC ended the day at $30,397. Despite the bearish session, BTC avoided sub-$30,000 for the first time in three sessions.<\/p>\n This morning, BTC was up 0.21% to $30,461. A mixed start to the day saw BTC fall to an early low of $30,366 before rising to a high of $30,513.<\/p>\n<\/div>\n<\/div>\n The Daily Chart showed a BTC\/USD move through the psychological $30,000 resistance level. BTC\/USD remained above the 50-day ($28,861) and 200-day ($26,307) EMAs, signaling bullish momentum over the near and long term.<\/p>\n Notably, the 50-day EMA continued to pull away from the 200-day EMA and reflected bullish momentum.<\/p>\n Looking at the 14-Daily RSI, the 59.22 reading signaled a bullish outlook and aligned with the 50-day and 200-day EMAs, supporting a run at the lower and upper levels of the $30,750 \u2013 $31,250 resistance band to test resistance at $31,500.<\/p>\n Looking at the 4-Hourly Chart, the BTC\/USD faces strong resistance at the $30,500 psychological level. BTC\/USD sits below the 50-day EMA ($30,466) while sitting above the 200-day EMA ($29,257), sending bearish near-term signals but bullish longer-term signals.<\/p>\n Significantly, the 50-day EMA narrowed to the 200-day EMA, signaling a fall through the 200-day EMA ($29,257) to bring the upper level of the $27,500 \u2013 $26,850 support band into view.<\/p>\n BTC\/USD must move through the 50-day EMA ($30,466) to support a breakout from the lower level of the resistance band and target $31,250 and the Thursday high of $31,504.<\/p>\n The 14-4H RSI reading of 50.30 indicates a moderately bullish stance and aligns with the EMAs, with buying pressure outweighing selling pressure. Significantly, the RSI signals near-term bullish momentum and supports a move through the 50-day EMA to bring the $30,750 \u2013 $31,250 resistance band into play.<\/p>\n It was a quiet Saturday session, with no US economic indicators or crypto events to move the dial.<\/p>\n Market bets on a July Fed rate hike remained hawkish after a busy week on the US economic calendar. Despite the weaker-than-expected nonfarm payrolls, US wage growth leaves the Fed on target for a 25-basis point interest rate hike.<\/p>\n While Fed Fear remains a crypto headwind, hopes of the SEC approving one, some, or all of the BTC ETF applications provided support.<\/p>\n It is a quiet Sunday session. With no US economic indicators to consider, BTC will remain in the hands of the crypto news wires.<\/p>\n Investors should track ETF chatter, with Binance<\/a> and SEC v Ripple<\/a>-related news likely to also be focal points.<\/p>\n<\/div>\n<\/div>\nBitcoin (BTC) Price Action<\/h2>\n
Daily Chart<\/h2>\n
4-Hourly Chart<\/h2>\n
Investors Grapple with Fed Fear and ETF Hopes<\/h2>\n
The Day Ahead<\/h2>\n