Bitcoin (BTCUSD) Price Forecast: July 15
Today, the Bitcoin bulls offer a suitable pullback as the crypto gains momentum, influencing a quick reversal rally. However, with an intraday gain, the price is poised to break out above the current level at $60356.45 to hit the $73709.99 previous barrier if the bulls could add more strength to their buying pressure. The target may rise as high as $80000.00 upper resistance level, bringing more investment opportunity to the crypto market.
Key Levels:
Resistance Levels: $59000.00 $60000.00, $61000.00
Support Levels: $48000.00, $47000.00, $46000.00
BTC (USD) Long-term Trend: Bearish (Daily Chart)
The BTCUSD is gathering momentum to remain stable at the upside, offering a suitable pullback to begin the bullish correction pattern on the higher time frames. The coin price is trending below the supply levels, indicating a bearish momentum.
The crypto has been slowed down recently due to the persistent bearish pressure in the past sessions. However, the trend will change as the bulls offer a suitable pullback to begin the up-north trip.
With the positive sentiment, the Bitcoin bulls offer a suitable pullback to the $60356.45 resistance value below the moving averages as a pullback as the daily chart opens today, signaling a possible extended correction.
Further, an increase in the buying pressure might lead the price of Bitcoin to hit the $73709.99 previous high and drive buyers to target the $80000.00 upper resistance soon.
Additionally, there is a tendency for the coin to continue the up-north journey, as indicated by the daily signal pointing upwards. If the support level holds, the bulls may target the $80000.00 upper resistance in the coming days as it offers a suitable pullback in its long-term perspective.
BTC (USD) Medium-term Trend: Bullish (4H Chart)
The BTCUSD pair offers a suitable pullback on the medium-term outlook and remains strong above the resistance levels. This is due to the high inflows from the buy traders.
During the previous action, the high bullish impact on the crypto at the $58898.00 supply level has sustained its firmness above the supply levels in its recent high.
Today, the bulls pushed the Bitcoin price to a $60356.45 high level above the moving average lines as the 4-hourly chart opens, indicating a growing interest among coin buyers.
The Bitcoin price looks promising as the bulls offer a suitable pullback and remain strong above the resistance levels. If the bulls should increase their price action, and bullish momentum is sustained far above the $66455.52 previous resistance trend lines, the potential rally could be prolonged.
Additionally, the daily stochastic remains upward. It means that the bullish momentum may continue. As a result, the market participants may witness a new recovery rally to reach the $80000.00 high mark soon as the crypto buyers offer a suitable pullback and remain strong above the resistance levels in its medium-term time frame.
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