{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/bitcoin-btcusd-price-is-rising-towards-the-75000-00-supply-level\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/bitcoin-btcusd-price-is-rising-towards-the-75000-00-supply-level\/","headline":"Bitcoin (BTCUSD) Price Is Rising Towards the $75,000.00 Supply Level","name":"Bitcoin (BTCUSD) Price Is Rising Towards the $75,000.00 Supply Level","description":"Bitcoin (BTCUSD) Price Forecast: July 27The Bitcoin market is positive today again. The coin price is rising towards the $75,000.00 supply level and may continue in that direction. Therefore, the crypto would suffer further losses if it made a clear breach below $56,500.00, whereby a daily candle above the $72,777.00 previous high will bring additional […]","datePublished":"2024-07-27","dateModified":"2024-07-27","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/07\/BITCOIN-IMG-4.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/07\/BITCOIN-IMG-4.png","height":2000,"width":2000},"url":"https:\/\/forexschoolonline.com\/bitcoin-btcusd-price-is-rising-towards-the-75000-00-supply-level\/","about":["Cryptocurrency","Price Action Charts in Focus","Technical Analysis","Trade Idea","Trade Setups"],"wordCount":383,"keywords":["Bitcoin","BTC","BTCUSD","Technical Analysis"],"articleBody":"Bitcoin (BTCUSD) Price Forecast: July 27The Bitcoin market is positive today again. The coin price is rising towards the $75,000.00 supply level and may continue in that direction. Therefore, the crypto would suffer further losses if it made a clear breach below $56,500.00, whereby a daily candle above the $72,777.00 previous high will bring additional gains to the coin. As a result, if buyers can put more effort into their market tension, the trend will shift upward to the $75,000.00 high value, bringing more investors to the crypto market.Key Levels:Resistance Levels: $64000.00 $65000.00, $66000.00Support Levels: $50000.00, $49000.00, $48000.00BTC (USD) Long-term Trend: Bullish (Daily Chart)Today’s daily chart, however, shows a broader recovery in prices. As the bulls took their stand to continue rising towards the upper high level, the Bitcoin price jumped to a $67,999.99 supply level above the EMA-50, at the time of writing this article. As a result, staying above the resistance suggests a strong chance of a bullish correction. Thus, a breakup above the $72,777.00 current resistance level would amplify the bullish pressure toward the $75,000.00 upper resistance point.Meanwhile, the market price of Bitcoin is pointing up on the daily stochastic, which means that the coin price may continue rising towards the $75,000.00 upper resistance level in its long-term outlook.BTC (USD) Medium-term Trend: Bullish (4H Chart)The Bitcoin price is rising towards the upper channel and remains in a bullish market in its medium-term outlook. Furthermore, the coin is trading above the 50-day moving average, indicating an uptrend.The sustained bullish pressure to a $65,028.23 high level in the previous action has led to the coin’s recent high. As the 4-hour chart resumes today, the bulls have reached the resistance level of $67,993.20 above the EMA-50 as the coin journeys up north toward the upper resistance level. However, the buy traders could not relent, as they aimed to continue trending up and drag the price further to a significant level at the upper channel, indicating investors’ confidence in the asset. However, the bullish correction at the mentioned resistance level is an indication that the bulls are planning to strongly move the price of BTCUSD to a high level at the upsides and the $75,000.00 supply trend line might be the target as the coin price continues rising towards the upper resistance level in its medium-term.Buy Bitcoin on Longhornfx"}