Search Inside Bitcoins

Bitcoin (BTC) Price Prediction: BTC/USD Crashes As Bitcoin Holds above $29,400

Bitcoin (BTC) Gradually Sinks As Bitcoin Holds above $29,400– July 20, 2021

BTC/USD loses crucial support level at $31,000 as Bitcoin holds above $29,400.The breakdown has been confirmed as price retested the $32,400 twice before resuming downward. Today, the bears have broken below the $30,000 support which signals a further downward move.

Resistance Levels: $45,000, $46,000, $47,000
Support Levels: $35,000, $34,000, $33,000

BTC/USD – Daily Chart

Following a successful breaking of the $31,000 and $30,000 support levels, the Journey to the $28,000 support is likely. Bitcoin is consolidating above the $29,400 support after the breakdown. The bulls are not ready to give up their position as the market consolidates above the $29,400 support. Nonetheless, in the middle of consolidation, Bitcoin may encounter a breakdown or a breakout of prices. The $29,400 support has been the historical price level where the bulls buy the dips each time Bitcoin plunges beyond the crucial support level.

On the upside, if BTC’s price rebounds above the $29,400 support, Bitcoin will rally above the $31,000 high. The bullish momentum will extend to the $32,000 high. Conversely, if the bears break the $29,400 support, the BTC price will decline to the $28,000 support. According to the daily stochastic, the market is below the 20% range of the daily stochastic. The king coin has reached the oversold region of the market.

JP Morgan to Engage More Blockchain Talent

Major American investment bank, JP Morgan has new blockchain-related job openings. JP Morgan is seeking candidates with experience in Bitcoin, Ethereum, and proof-of-stake consensus mechanisms. According to the company, it intends to pursue its global blockchain development efforts, including job postings targeting blockchain-focused software developers, engineers, marketers, and auditors. The investment bank seeks blockchain talent across several of JPMorgan’s branches worldwide, including the United States, Singapore, India, Hong Kong, the United Kingdom, and other countries. Some applications specifically target talent for JPMorgan’s digital currency-focused Onyx division.

BTC/USD – Daily Chart

Looking to buy or trade Bitcoin (BTC) now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provider


Meanwhile, Bitcoin is now trading in a tight range as Bitcoin holds above $29,400. Bitcoin will resume an upward move if price breaks above the $30,100 high. Similarly, the king coin will further depreciate if the bears break below the $29,400 support. Meanwhile, BTC/USD is trading in the oversold region as buyers are expected to emerge.

Read next

X

eToro - Best Cryptocurrency Platform

eToro - Best Cryptocurrency Platform

eToro - Best Cryptocurrency Platform

Buy Crypto

68% of retail investor CFD accounts lose money.

eToro - Best Cryptocurrency Platform
Buy Crypto

68% of retail investor CFD accounts lose money.

X

InsideBitcoins uses cookies to improve and customize your user experience. Learn more

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close