Bitcoin (BTCUSD) Price Forecast: July 26
The Bitcoin (BTCUSD) price may likely reverse to test the $31443.67 supply soon to resume its bullish trend as the market is oversold already. The coin price may likely reverse in a bullish direction, and it may soon be prepared for another probable upward surge. The price may perhaps retrace to retest the previously mentioned point and even surpass if buyers can demonstrate their strength and trade hands with sellers at the current support level of $28850.00.
Key Levels:
Resistance Levels: $28000.00, $29000.00, $30000.00
Support Levels: $23000.00, $22000.00, $21000.00
BTC (USD) Long-term Trend: Bearish (Daily Chart)
Bitcoin market is having a bearish posture in its long-term outlook as can be seen from the chart below. This is due to the inflow from the sell traders.
The sustained pressure from the bears at the $29626.86 support level in the past few days has contributed to its bearishness in its recent low.
The impulse move by the short traders at the $136.518 below the range channel as the daily session opens today affirms the presence of the bears in the market.
Buyers must redouble their efforts to forecast a bullish increase in the market above the $31443.67 resistance level. Instead, as momentum continues to deteriorate, the sell will intensify.
Hence, the market is oversold already; this will quicken the emergence of the bulls to move the price of BTCUSD up to a significant level on the upside and this might be the $35000.00 upper resistance level.
BTC (USD) Medium-term Trend: Bearish (4H Chart)
According to the chart below, the medium-term outlook for the Bitcoin market is in a bearish trend zone. The price responded to the shift in the market structure and is currently below the moving averages. 
The sustained bearish pressure pushes the pair further down to the $29885.81 support value during yesterday’s session. This has made the largest cryptocurrency remain below the range levels in recent times.
Today, the bears however made a drop to a $28850.00 support level below the moving averages. Given the current trend, buyers are able to purchase the item at a lower cost and push the market higher. Thus, the price tendency will climb over the crucial levels if the bulls raise their level of market tension.
Additionally, BTCUSD is likely going to reverse and face the upsides as the market is now trading below the 20% range of the daily stochastic; it means that the selling pressure will end soon.
This will compel the buy traders to resume an uptrend and may likely retest the $31443.67 supply level soon in its medium-term time frame.
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