Bitcoin

Rekt

Trillion

On July 18, <a href="https://coinmarketcap.com/currencies/bitcoin/" data-wpel-link="external" target="_blank" rel="nofollow external noreferrer">Bitcoin</a> continued its efforts to reclaim the $65,000 mark, a critical level for analysts. 
Data from Cointelegraph Markets Pro and TradingView indicated that Bitcoin’s price action showed consolidation during the Asian trading session and Wall Street open. 
After reaching $66,000 the previous day, BTC/USD tested the resilience of its recent gains, as the short-term holder (STH) realized price came into focus. 
Cointelegraph noted that this bull market trendline, just above $64,000 as of July 18, had previously been lost as support for the first time in nearly a year. 
Popular trader and analyst Rekt Capital highlighted the significance of the current zone for BTC/USD, emphasizing the need for firm support confirmation. 
“Bitcoin is not quite ready just yet for a successful retest of the ~$65,000 level as new support,” he noted on X, sharing an explanatory chart. 
He added that Bitcoin would require a retest similar to a previous instance (blue circle) to confirm a break back into the $65,000-$71,500 region. 
READ MORE: <a href="https://www.cryptointelligence.co.uk/confidential-computing-poised-to-unlock-1-trillion-in-crypto-capital-with-privacy-tech-advancements/" data-wpel-link="internal">Confidential Computing Poised to Unlock $1 Trillion in Crypto Capital with Privacy Tech Advancements</a> 
He warned that BTC/USD “risks rejection” if the $65,000 area remains unconquered on daily timeframes. 
Trader and analyst Scott Melker, known as the “Wolf Of All Streets,” pointed to positive low-timeframe relative strength index (RSI) signals for clues on the market’s next direction. 
“Bearish divergence cancelled. Nice,” he commented on X. “We now have confirmed hidden bullish divergence (blue), which is a continuation signal.” 
Crypto trader and educator XForceGlobal employed Elliott Wave analysis and expressed confidence in an upward continuation following consolidation. 
“Overall, we are looking for the continuation of a bullish trend if the buy pressure continues to at least finish the first wave 1 of the intermediate degree in orange to gain more confidence that we are finally going to break ATH, going into the conclusion of a primary wave 5 of the highest degree,” they stated in updated chart commentary. 
Adding to the bullish sentiment, a proprietary trading indicator from DecenTrader, Predator, produced its first green “bullish” signal on three-day timeframes since early February. 
This indicator uses various inputs to generate “green” and “red” signals across multiple timeframes. “Predator has spoken,” DecenTrader remarked on X. 
To submit a <a href="https://www.cryptointelligence.co.uk/category/press-releases/" data-wpel-link="internal">crypto press release (PR)</a>, send an email to <a href="mailto:sales@cryptointelligence.co.uk">sales@cryptointelligence.co.uk</a>.

Bitcoin Battles to Reclaim $65,000 as Analysts Eye Crucial Support Levels

Crypto Intelligence

Muita 24. heinäk. 2024 julkaistuja artikkeleja

Arbitrum Attracts Over 48% Of Assets From Ethereum: Why Is ARB Down 68% In 7 Months?

Investors Show Strong Interest in Spot Ethereum ETFs

Ethereum ETF frenzy: $1B traded in 24 hours – What’s next?

OpenAI could lose $5B this year and run out of cash in 12 months: Report

Ethereum (ETH) produced 60K extra tokens in a month on low but persistent inflation

Mt. Gox Payments Impact Crypto Prices

Join our free newsletter for daily crypto updates!