The Bitcoin Price Continues to Rise 📈
After a brief dip below $66,000, the price of Bitcoin (BTC) is once again on the rise, showing positive momentum. Analysts predict a potential drop to $65,000 before the uptrend resumes.
Positive Long-Term Outlook for Bitcoin Price 🔮
In the recent price rally on July 21, Bitcoin experienced a minor retracement, indicating a bullish trend. The correction suggests that Bitcoin might hit $72,461.50 before facing resistance at the $72,000 mark.
- Bitcoin likely to rise, but may reverse at $72,461.50
- Resistance expected at $72,000
Bitcoin Indicators Point to Continued Growth 📊
Bitcoin has maintained an upward trend above the moving average lines since July 15, indicating potential for further growth. As long as the price bars remain above the moving average lines, Bitcoin is expected to continue its positive trajectory.
Technical Indicators:
- Key Resistance Levels: $70,000 and $80,000
- Key Support Levels: $50,000 and $40,000
What’s Next for BTC/USD? 🚀
Bitcoin is poised to surpass the $65,547 level and target the previous high of $70,000. The market is eyeing a potential retest of $72,461, with indicators pointing towards a continuation of the uptrend.
If Bitcoin breaks above the 21-day moving average line on the 4-hour chart, expect the bullish trend to strengthen.
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