June 23 (Cointime) - Bitcoin's price is currently stable around $30,000, but it faces a critical resistance level at $30,800. Economic events like Unemployment Claims data, Existing Home Sales figures, and Federal Reserve Chair Powell's testimony could impact Bitcoin's trajectory.
Powell indicated that the Fed will likely raise interest rates at least once more this year due to persistent inflation concerns. This anticipation of higher interest rates could lead to a stronger US dollar, which may put downward pressure on Bitcoin's price. Traders should closely monitor the $30,700 level and consider potential short positions below it, while placing stop-loss orders above $31,000.
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