BTC update for July 12,.2023 - Potential for the breakout of the consolidation

Technical analysis:

BTC/USD is still trading inside of the well defined trading range and I see potential for the potential breakout mode.

In case of the breakout of the resistance at the price of $31.500, there is potential for the rally towards $34.000

In case of the breakout of the support zone at $29.500, there is potential for the drop towards $27.360