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Анализа цена Битцоина shows a neutral outlook. As the price continues to consolidate near the $23,000 mark. The extended consolidation makes investors nervous as the fight between bulls & bears continues. The largest cryptocurrency by the market cap trades with modest gains on Wednesday. As of writing, BTC/USD trades at $22,889, up 0.31%. The bulls failed to capitalize on the late buying in the previous session. And, trades in $23,200 and $22, 800 narrow trading range.
On the daily chart, the price retraced after testing the highs and continued its upward journey. On July 8 and July 20 the price tested fresh highs and immediately fell into a corrective pullback. We can see the replication of the previous price pattern. After testing, the swing highs of $24,666 on July 30, BTC faced a pullback. Further, the price could correct up to $22,500. That could be a discount buying opportunity.
- Bitcoin price offers no surprises as it remained offered near $23,000.
- A bounce back is expected if the bulls manage to hold $22,800-$22,500 support zone.
- However, a fall out below $22,200 would invalidate any bullish argument.
BTC price displays consolidation
BTC price is trading in an ascending channel, making higher highs and higher lows on a daily basis. Currently, the price is hovering near the 20-day EMA for the last three days. Thus, making it a crucial level to trade.
After giving an impulse move from $20,700 to $24,670, BTC’s price takes a retracement from a higher level to the 50% Fibonacci level, which is at $22,700.
The daily chart shows BTC’s price makes a crucial support zone that extends from $22,700 to $22,500. At the same time, the nearest resistance is at $23,200. If the price is able to close above $23,200, with good volumes then we can expect a good to bullish momentum up to the highs at $24,600.
On the contrary, a spike in sell orders could blow out the low of July 24 at $22,260. On moving lower, the sellers could test $21,500.
On the hourly time frame, the price formed a “Triple Bottom pattern” indicating strong support on lower levels. According to this pattern, If the price breaks its neckline on the higher level above $23,200 with good volumes, then the expected upside momentum in BTC price can go above $23,500 to $23,750.
С друге стране, пробијање испод нивоа од 22,650 долара могло би да поништи биковске изгледе. А цена може бити испод 22,200 долара
БТЦ је биковски у свим временским оквирима. Изнад 23,200 долара затварања у временском оквиру по сату, можемо ставити трговину на страну куповине.
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Source: https://coingape.com/markets/bitcoin-price-analysis-btc-still-not-out-of-wood-as-struggles-near-23000/