Bitcoin Price Prediction: BTC/USD Breakdown Below $9,400 Looms, Can Bulls Bounce Back? ByAzeez MustaphaPRO INVESTOR Updated: 22 July 2020 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin (BTC) Price Prediction – July 22 The Bitcoin price fails to sustain gains above $9,400 as the coin seeks balance above $9,300 during the Asian session. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $9,600, $9,800, $10,000 Support Levels: $9,000, $8,800, $8,600 BTCUSD – Daily Chart BTC/USD is reclaiming its position above $9,300 following a minor and brief dip into the $9,276 during the Asian session today. The recovery pulled Bitcoin above $9,300 but the momentum seems to have fizzled out leaving BTC/USD in the hands of the bears again. At the time of writing, the Bitcoin price is hovering at $9,333.99 with the trend bearish and volatility expanding. However, an upside break above the channel is a must to start a substantial recovery. Meanwhile, the next hurdles may be seen near the resistance levels of $9,600, $9,800, and $10,000. On the downside, initial support is below the moving averages and if there is a successful break below this barrier, the bears are likely to gain strength by bringing the price to a low of $9,000, $8,800, and $8,600 respectively. For now, the Bitcoin price is following a dominant bearish bias and a glance at the RSI (14) displays a negative picture for BTC in the near-term. In addition, maintaining a gradual downward trend below the 55-level may increase the selling entries. BTC/USD Medium – Term Trend: Ranging (4H Chart) Yesterday, the Bitcoin price surged upwards of over $200 within 24 hours, catapulting its price from $9,158 to reach around $9,400. After the sudden rise of yesterday, the coin started dropping in price to where it’s trading currently at $9,336. Should the price continue to drop further, it could reach the nearest supports at $9,250, $9,050, and $8,850 respectively. BTCUSD – Daily Chart Moreover, if the bulls push the coin above the red-line of the 9-day moving average and above the upper boundary of the channel, the price of Bitcoin may likely touch the potential resistance levels of $9,450, $9,650, and $9,850. Presently, the market is indecisive as the RSI (14) indicator moves around 60-level. Join Our Telegram channel to stay up to date on breaking news coverage