Bitcoin bounces back, reaching $ 32,850 high when Bitcoin bounces – July 22, 2021
Bitcoin has recovered from falling to the lowest level of $ 29,400 support when Bitcoin recovers. BTC’s price stabilized above the $ 29,400 subsidy for two days before final recovery. The bears have previously planned to bring Bitcoin to its lowest level of $ 28,000 and later to $ 20,000. BTC / USD has returned to a range of $ 31,000 to $ 41,273.
Resistance levels: $ 45,000, $ 46,000, $ 47,000
Support levels: $ 35,000, $ 34,000, $ 33,000
After the recent July 20 breakup BTC price consolidated for two days above the $ 29,400 subsidy. The long tails of the candlesticks point downwards, indicating that the bulls have bought the dips.
This has led to a strong recovery as the BTC price rose to $ 32,850. There are strong indications that the BTC price will continue to rise to its highest level, at $ 34,000. However, Bitcoin is likely to have resistance at its highest, $ 34,400. Nevertheless, if buyers win the $ 35,000 resistance zone, the market will rise above the high level of $ 37,000. Conversely, if buyers face a second rejection in opposition to $ 35,000, Bitcoin will fall. The bears are trying to lower the price of BTC above the important support level of $ 31,000. Meanwhile, the price of BTC is above the daily stochastic range of 75%. It shows that the royal coin is approaching the overbought territory of the market. This leads to the emergence of sellers who push prices down.
Russian stock exchanges to avoid listing cryptocurrencies
The Central Bank of Russia has asked stock exchanges not to list companies involved in encryption. However, these recommendations do not apply to the central bank’s digital currencies and authorized digital assets issued in Russia. This is happening at a time when global cryptocurrency companies are considering going public. On July 19, the Central Bank of Russia has officially sent a letter urging Russian stock exchanges to refrain from listing foreign and local companies in large-scale encryption. According to the report, “the recommendations of the Central Bank of Russia are aimed at a preventive measure – they are designed to prevent the introduction of mass investors in such instruments”
The price of Bitcoin has started to rise again as Bitcoin recovers. Currently, the upward movement is at a height of $ 32,900. The uptrend continues when the original resistance is broken. On the four-hour chart, the price of Bitcoin has exceeded moving averages, suggesting a possible rise in the coin. Meanwhile, July 21 upward trend; The retracated candle body tested the 78.6% fibonacci retracement level. The recalculation shows that Bitcoin will rise but turn to the level of 1,272 Fibonacci extension or to the level of 33,727.50.
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