Bitcoin (BTCUSD) Price Could Grow More

Bitcoin (BTCUSD) Price Forecast: July 25
BTCUSD price could grow more as it is currently showing signs of improvement and continues to make new corrections to the upper channel. The price challenged several resistance levels close to $65,500, and a quick spike is anticipated shortly. If the sell traders ease up on their tension in the market, the cryptocurrency may surge towards the $70,000.00 supply level amid renewed buying impetus.

Key Levels:
Resistance Levels: $63,000.00 $64,000.00, $65,000.00
Support Levels: $59,000.00, $58,000.00, $57,000.00

BTC (USD) Long-term Trend: Bullish (4H Chart)
The Bitcoin market indicates an upward trend that price could grow more with a bullish sentiment in its long-term outlook. The coin is trading above the EMA-50, suggesting a bullish momentum.

The persistent bullish pressure to a $65,532 supply level in the past few hours has enhanced the coin prices to grow more and remain strong in an uptrend in its recent high.

The bull race caused a rise in the price of BTCUSD from a $65,532.20 level to a $66,011.68 high value above the moving averages. This, however, will create a strong area of interest for the buy investors.

More so, this sharp dive in the crypto’s price accentuates that the excess buying pressure has stabilized, and the price could grow again if the market sentiment doesn’t witness any unfavorable situation. With this new phase, the price may likely reach a $73,000.00 high level soon in its higher time frame.

BTC (USD) Short-term Trend: Bearish (1H Chart)
BTCUSD market is bearish in its short-term outlook. Meanwhile, the price could grow more as a new correction pattern has just begun below the supply levels.

The bearish impact on the crypto to the $64,444.30 low level in the previous action has sustained its bearishness in its recent high.

Today, after completing the dips at a $65,444.30 low level, the bulls made a pullback at the $66,011.68 high value below the moving average lines as the 1-hourly chart opens, indicating a growing interest among traders.

Thus, the Bitcoin price could grow more if the bulls should add to the tension in the market. The $68,495.00 previous barrier might be retested soon.

Next, if further selling power is stopped, a post-retest rally might push prices higher and eventually grow more to reach the $73,000.00 resistance soon in its lower time frame.

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