Week 11 Bitcoin Price Forecast

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Bitcoin Price Forecast Week 11: Last week, Bitcoin had a lot of action, but went absolutely nowhere. There was sideways price action all week as we approached the trifecta of the end of the month, the end of the quarter, and the end of the first half of 2023.

Some of the major news events last week including:
- $4.57 Billion worth of Bitcoin options expiring on Friday 6/30.
- Michael Saylor announcing that MicroStrategy purchased 12,333 Bitcoin bringing their total holdings to 152,333 Bitcoin (~$4.6 Billion)
- The SEC stating that the Bitcoin Spot ETFs filed by Black Rock, ARK Capital, Fidelity, etc were inadequate. Thankfully the SEC did provide guidance on refiling and many of the institutions refiled.
- Bitcoin closed above $30,000 to end June. There have been attempts to close above this level since February and it finally happened

July is historically a positive month for Bitcoin and I'm expecting big things from price action this month. I have a short term price target of $37,000 before meeting any more major resistance.

Looking forward to a great month.

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