fresh BTC price market crash

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fresh BTC price market crash

  • As the week draws to a close, traders mark distinct cut-off lines for Bitcoin price movement around significant moving averages.As of July 24, Bitcoin (BTC) was holding steady above $22,000, and bulls continued to expect a solid weekly close in the positive.

How to buy bitcoin


Standard levels of price concentration as the week comes to an end BTC/USD stopped declining over the weekend around $21,900 and began to rise back toward $23,000, according to data from Cointelegraph Markets Pro and TradingView.


Experts have previously pointed to these key long-term trendlines as crucial to recapture, and the pair continued to trade inside a range that was narrowly focused on them.


One of these was the 200-week moving average (MA), which is especially important during down markets but has been serving as resistance since May. The 50-day MA was another.

In part of her most recent post for the day, popular Twitter trading account CryptoMellany said that "Bullish that we flawlessly held the 13d ema + horizontal 21.9k."


The next week will begin with movement down to 21-21.6k and then up for the remainder of the week, establishing a bull flag. The trader predicted that the price would remain at 22.5k for today's weekly closing.

The current price was $22,670 at the time of writing, while the 50-day and 200-week MAs were both at $22,370 and $22,690.

Bitcoin price prediction



1-day candlestick chart for BTC/USD on Bitstamp with 50- and 200-day moving averages. the TradingView website.

Jibon, a trader and analyst colleague, went on to describe the upcoming weekly close as "very incredibly significant." On the accompanying picture, a line was drawn at $21,944 and $22,401 designating a "good" or "bad" close.

Jibon had previously issued a warning earlier in the week, stating that such a "bad" outcome could signal the beginning of a retracement to new macro lows for Bitcoin, which could be as low as $12,000, and that continued strength could fuel a relief rally as high as $40,000.

Bitcoin account



BTC/USD would close at its highest levels since mid-June if it closed at the present levels.As ETH outlows climb, Ethereum and Cardano are the top two cryptocurrencies.


The top performing cryptocurrencies over the weekend were Cardano (ADA) and Ether (ETH), both of which rejected lower levels.

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