{"id":335778,"date":"2022-07-07T11:12:42","date_gmt":"2022-07-07T15:12:42","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=335778"},"modified":"2022-07-07T11:12:42","modified_gmt":"2022-07-07T15:12:42","slug":"bitcoin-price-prediction-for-today-july-7-btc-bounces-above-20000-level","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-for-today-july-7-btc-bounces-above-20000-level","title":{"rendered":"Bitcoin Price Prediction for Today, July 7: BTC Bounces Above $20,000 Level"},"content":{"rendered":"

The Bitcoin price prediction gains 0.31% as bulls keep working hard to nurture a bullish trend towards the resistance level of $22,000.<\/p>\n

Bitcoin Prediction Statistics Data:<\/h2>\n

Bitcoin price now – $20,606<\/p>\n

Bitcoin market cap – $398.3 billion<\/p>\n

Bitcoin circulating supply – 19.0 million<\/p>\n

Bitcoin total supply – 19.0 million<\/p>\n

Bitcoin Coinmarketcap ranking – #1<\/p>\n

BTC\/USD Long-term Trend: Bearish (Daily Chart)<\/h2>\n

Key levels:<\/p>\n

Resistance Levels: $28,000, $30,000, $32,000<\/p>\n

Support Levels: $15,000, $13,000, $11,000<\/p>\n

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Buy Bitcoin Now<\/span><\/a><\/div>\n

BTC\/USD<\/a> is currently trading at the $20,606 resistance level as the market price is crossing above the 9-day and 21-day moving averages, indicating a bullish movement since the beginning of today. For the past few days, the Bitcoin price has been preparing a move to the upside and in the context of the Bitcoin exchange rate forecast; an application of $21,000 resistance is expected.<\/p>\n

Bitcoin Price Prediction: BTC May Hit the $22,000 Resistance<\/h2>\n

According to the daily chart, if the Bitcoin price<\/a> stays and keeps moving above the 9-day and 21-day moving averages conveniently; it is likely for the king coin to touch the $21,000 level. This is where traders should expect buyers to fight for a further rise in BTC\/USD and further development of the bullish trend. However, the purpose of this movement is to provide a level of resistance close to $22,000.<\/p>\n

Looking at the market movement, there is likely that the Bitcoin price may experience a quick retracement or sell-off just in case it touches the crucial $22,000 level, but if not; traders may see additional resistance levels of $23,000 and $25,000. However, any further bullish movement could hit the resistance levels of $28,000, $30,000, and $32,000 respectively.<\/p>\n

On the downside, if the price falls below the moving averages, BTC\/USD could see a further decline towards the support levels of $15,000, $13,000, and $11,000. As revealed by the technical indicator, the market may gain more if the Relative Strength Index (14) crosses above the 40-level.<\/p>\n

BTC\/USD Medium-Term Trend: Ranging (4H Chart)<\/h2>\n

Looking at the 4-hour chart, the Bitcoin price is heading to the upside as the king coin remains above the 9-day and 21-day moving averages. On the contrary, if the selling pressure still exists, it could hold the coin not to follow the upward movement, and the $19,500 and below may come into play.<\/p>\n

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BTCUSD – 4-Hour Chart<\/figcaption><\/figure>\n

But, in as much as the buyers keep the price above the moving averages, traders may expect a strong bullish movement that could hit the resistance at $22,000 and above as the technical indicator Relative Strength Index (14) moves to cross into the overbought region, suggesting more bullish signals.<\/p>\n\n \n

Read more:<\/strong><\/p>\n