Bitcoin (BTCUSD) Price Forecast: July 23
BTCUSD price is very likely to continue growing, and the crypto price will go higher as we see a vibrant bullish correction in place. An increase in the bulls’ pressure may break the previous supply at the $72,943.98 level and this may swing the crypto price to a $73,000.00 and $75,000.00 supply levels and beyond, bringing life to the crypto market for future gains.
Key Levels:
Resistance Levels: $65000.00 $66000.00, $67000.00
Support Levels: $50000.00, $49000.00, $48000.00
BTC (USD) Long-term Trend: Bullish (Daily Chart)
The BTCUSD price is on the high side and will go higher as the bulls are ready to rebalance the crypto market, as seen from the daily chart below. The coin price is above the moving average line, indicating a bullish momentum.
The sustained bullish pressure at the $67,163.83 supply level during yesterday’s session has made the coin price go higher and remain above the supply trend levels at its high.
Today, the Bitcoin price at a $67,756.51 supply mark is 10% up and showcases a reattempt to go higher and challenge the overhead resistance as the daily chart opens today.
Thus, the coin price at the mentioned resistance value above the EMA-50 suggests that the price will go higher as the bulls remain dominant in the market. This will give the buy traders the motive to influence the price tendency.
Thus, if the price on the daily chart closes above the $72,943.78 high value, then there is a high probability of the price retesting its previous high at the $73,799.99 supply trend line, attracting more investors to the crypto market.
In addition, further upsides are likely as the price of Bitcoin now points up as indicated by the price indicator. It means that the coin price will go higher while the bulls continue to dictate the price action of the market, extending the coin price to a $75,000.00 high trend line in the days ahead in its long-term outlook.
BTC (USD) Medium-term Trend: Bullish (4H Chart)
BTCUSD pair is positive again and will go higher from its current level to reach the previous high level soon in its medium-term outlook. The price responded to the shift in the market structure and is currently above the moving averages. 
The pressure from the bulls at the $66,857.21 supply value during the last few hours has sustained the coin price to go higher above the supply trend levels in its recent high.
Today, the buy investors pushed the crypto price to a $67,883.81 resistance level above the EMA-50, indicating that the price will go higher as the bulls are ready to take the price to the overhead resistance soon. Thus, more upsides are possible as buyers are seen clustered around the market.
In addition, under the influence of this market level, the price of Bitcoin could go higher soon to retest the previous high of $73709.99 to reach the $75000.00 resistance level in the coming days as we watch the crypto market turns strongly bullish soon in the medium-term perspective.
Buy Bitcoin on Longhornfx
Leave a Reply