Search Inside Bitcoins

Bitcoin Price Prediction: BTC/USD Remains Above $40,000

Bitcoin Price Prediction
Bitcoin Price Prediction

Bitcoin Price Prediction – July 28

The Bitcoin (BTC) is recovering from the recent low of $38,803 but bulls may have trouble taking the market price above $41,000.

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key levels:

Resistance Levels: $44,000, $46,000, $48,000

Support Levels: $36,000, $34,000, $32,000

Bitcoin Price Prediction
BTCUSD – Daily Chart

At the time of writing, BTC/USD is trading up by 1.71% at its current price of $40,145. This is the spot where the coin has traded a couple of days ago, with the buying pressure seen in the $40,500 region proving significant. Moreover, where the coin may go next could depend on whether or not bulls can break above the upper boundary of the channel.

Bitcoin Price Prediction: Bitcoin (BTC) May Accelerates Above $40?

As the Bitcoin price touches the daily high of $40,925, it is important for bulls to remains around this level, otherwise, there may come a bearish breakdown when BTC/USD falls below the channel. The 9-day MA is crossing above the 21-day MA as the technical indicator Relative Strength Index (14) is sending a moderate sign which is more likely a bullish trend at the time of the outcome.

However, BTC/USD will confirm more bullish trends if the market price moves above the previous high of $40,925. On the contrary, the Bitcoin price may follow the bearish trend if the price moves below the 9-day and 21-day moving averages. Once this is done, the king coin may retest the supports of $36,000, $34,000, and $32,000 while the RSI (14) moves into the overbought region. Therefore, a strong bullish spike may push the price towards the resistance levels of $44,000, $46,000, and $48,000.

BTC/USD Medium-Term Trend: Bullish (4H Chart)

According to the 4-hour chart, the Bitcoin price touches the daily high at $40,925. However, today’s price move happens to be the most impressive one as it climbs above the long-awaited resistance level of $40,000 with a sharp upsurge. More so, BTC/USD is now retreating below $40,000 as the RSI (14) moves below 65-level.

BTCUSD – 4 Hour Chart

However, BTC may take a downward move if the price crosses below the 9-day moving average. Therefore, the coin may breach below the 21-day moving average and could reach another support at $38,000 and below. Nevertheless, if the bulls find a decent resistance level of around $41,000, the coin may continue bullish movement above the channel at the resistance level of $42,000 and above.

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

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

Read next

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