Technical analysis by Doctor-Bitcoin about Symbol BTC: Buy recommendation (7/1/2024)

Dear traders! Previously BTCUSD formed a breakout above $62,000, then quickly approached the $64,000 mark and suffered a rejection as clearly shown from the chart. Particularly today, it seems that market movements are still relatively quiet when the two BB lines show signs of narrowing on the H1 chart. From an analytical perspective based on the narrowing BB bands, Doctor-Bitcoin personally believes that the short-term support zone at the 62,000 USD area will maintain the upward momentum to the resistance limit at the 63,800 USD mark with the aim of forming forming a new short-term peak.