empty
 
 

22.07.202117:04 Ανάλυση και κριτικές Forex: Trading Signal for Bitcoin, BTC/USD, for July 22 - 23, 2021: Buy above $30,824

Exchange Rates 22.07.2021 analysis

The price of Bitcoin, BTC / USD, is showing a slight upward force after having found support at the psychological level of 30,000. Now the odds are that there will be a bullish movement in the short term towards the resistance zone of 4/8 of murray, about $37,500.

The extremely oversold level of murray in -1/8 ($29,687) has given good support to BTC. On June 22, Bitcoin made a technical bounce at this level. Then on July 20, it made a rebound again at this level, thus forming a double bottom reversal pattern with a short-term bullish outlook.

The price of Bitcoin increased approximately 12% from the low on July 20 at $29,300. Given that it is now holding above the 21 SMA, the upward movement is likely to continue to the zone of 200 EMA ($33.145) and up to 2/8 of murray at the $34,375.

Therefore, a technical rebound in the area of $30,824 (SMA 21) will be a good opportunity to buy with targets at the top of the bearish channel and the EMA of 200. To break this level sharply, it is expected to reach the level of 4/8 murray.

The technical reading of the eagle indicator is showing a bullish signal in the short term, so it could support our bullish outlook on Bitcoin. In case ofa a break below the psychological level of $30,000, we should avoid buying.

Support and Resistance Levels for July 22 - 23, 2021

Resistance (3) 34,619

Resistance (2) 33,152

Resistance (1) 32,345

----------------------------

Support (1) 30,866

Support (2) 29,809

Support (3) 27,929

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dimitrios Zappas,
Αναλυτικός εμπειρογνώμονας της InstaForex
© 2007-2021
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
Can't speak right now?
Ask your question in the chat.