Search Inside Bitcoins

Bitcoin Price Prediction: BTC/USD Reclaims $32,000 Level

Bitcoin Price Prediction
Bitcoin Price Prediction

Bitcoin Price Prediction – July 21

The Bitcoin price finally breached its previous all-time high of $31,000, as it moved above the $32,000 level.

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

Key levels:

Resistance Levels: $36,000, $38,000, $40,000

Support Levels: $26,000, $24,000, $22,000

Bitcoin Price Prediction
BTCUSD – Daily Chart

BTC/USD is following the bullish movement, and it seems bent on breaking new grounds.

After a tumultuous day of trading, the coin has just painted a new high for this week, as it now trades at $31,638.

As the market remains within the 9-day and 21-day moving averages, the Bitcoin price spikes just in time.

Bitcoin Price Prediction: Is BTC Price Ready for the Upside?

The daily chart reveals that the Bitcoin price is planning to move above the 9-day and 21-day moving averages in other to cross the upper boundary of the channel as the price establishes a new bullish signal.

With the look of things, the market’s long-term outlook now favors the bulls, giving the daily close produced a large bullish engulfing candle with eyes now set on the daily resistances at $36,000, $38,000, and $40,000, respectively.

However, any rejection at the current level could eventually lead to declines to the critical support below the 9-day and 21-day moving averages.

If BTC drops and touches the low of $30,000 support, then the coin can rely on the long-term support levels at $26,000, $24,000, and $22,000.

Moreover, the technical indicator Relative Strength Index (14) has now crossed above 40-level, suggesting more bullish signals.

BTC/USD Medium-term Trend: Bearish (4H Chart)

According to the 4-hour chart, the Bitcoin price is touching the daily high at $32,825.

However, today’s price move happens to be the most impressive as it climbs above the long-awaited resistance level of $32,000 with a sharp upsurge.

More so, Bitcoin’s price is now maintaining its bull-run above $31,500 as the Relative Strength Index (14) moves above 55-level.

BTCUSD – 4 Hour Chart

On the other hand, BTC/USD may decide to take a downward move if the bulls fail to push the price higher again.

Therefore, the coin may breach below the 9-day and 21-day moving averages and could reach another support at $30,500 and below.

Nevertheless, if the bulls find a decent resistance level of around $32,500, the coin may continue bullish movement above the channel at the resistance level of $33,000 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

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