Bitcoin Price Prediction – July 21

The Bitcoin price finally breached its previous all-time high of $ 31,000 and moves 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

BTCUSD – Daily Chart

BTC / USD is following the bullish movement and it seems that there is nothing holding it back from reaching the higher level. After a tumultuous day of trading, the coin has just painted a new high for this week as it is currently trading at $ 31,638. The Bitcoin price spiked above $ 32,000 as the market remains within the 9-day and 21-day moving averages.

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 long-term outlook of the market 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. In case BTC drops and keys 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) now crosses 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 seen touching the daily high at $ 32,825. However, today’s price move happens to be the most impressive one as it climbs above the long-awaited resistance level of $ 32,000 with a sharp upsurge. More so, the Bitcoin 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 failed 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.

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