Bitcoin price forecast – July 21
The BTC / USD market is now showing a signal of recovery in response to recent positive downward forces. The secretion is valued at approximately $ 31,421 with a percentage of 4.25.
BTC / USD market
Resistance levels: $ 35,000, $ 37,500, $ 40,000
Support levels: 27,500, 25,000, 22,500,
BTC / USD – daily chart
According to the BTC / USD daily chart, the cryptocurrency market is showing a recovery signal on the rise based on the rise in the candlestick, which is the basis for a critical support level raised to $ 30,000. The 14-day SMA indicator has moved below the $ 35,000 level above the 50-day SMA indicator. The stochastic oscillators are in the oversold territory and point north at a distance of about 20. This shows that the market has begun to recover.
Could the current rise be reduced when the BTC / USD market shows a signal of recovery?
Given a trading venue where BTC / USD with the market showing a signal of recovery in day-to-day trading, traders could count on the emergence when today’s rising candlestick is currently below critical support levels. The end point of the current candlestick rise point would potentially lead to the planning of this market activity for further northward movement. The rise of the market may face resistance of about $ 33,000 or higher.
As a disadvantage of technical analysis, it is more recommended that the bears interrupt the positioning for a moment. The reason for this assumption is far from sought is that the cryptocurrency has reached a declining zone, implying a visible surplus of bear power in the market. Therefore, the short-circuiting of positions from that moment on could at no point push such a trading position into the trap of a bear.
BTC / USD 4 hour chart
A rising candlestick has risen to it BTC / USD a medium-term chart showing that the cryptographic market is showing a recovery signal designed to generate a smaller SMA against the trend line. The bearish trend line pulled above the 14-day SMA indicator alongside the 50-day SMA indicator. Stochastic oscillators have moved from the oversold territory to the north indicated, close to the 80 region. This means that BTC / USD bulls prepare and assemble against the muscles the value of the US dollar in cryptographic mode.
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