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Bitcoin (BTC) Price Analysis for July 26

Price Predictions
Mon, 07/26/2021 - 15:21
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Denys Serhiichuk
Can Bitcoin (BTC) keep the rise going after today's price blast?
Bitcoin (BTC) Price Analysis for July 26
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The new week has begun with the continued growth of the cryptocurrency market as all top 10 coins are in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) is the top gainer today among the top coins as its rate has rocketed by more than 10 percent. On some exchanges, the price has even surpassed the $40,000 mark.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the hourly chart, Bitcoin (BTC) could not come back to the zone of $39,000. However, the selling pressure is low, according to the decreasing trading volume. In this case, there are high chances of seeing a slight bounceback from the $36,800 mark.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the bigger time frame, a minor correction is also the most likely scenario, as traders May have realized long-term accumulation in a narrow range. That is why there are high chances of seeing a test of the liquidity level around $37,000.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the weekly chart, the candle has broken the resistance; however, it could not reach the vital $40,000 mark. The impulse was not accompanied by large trading volumes, which means that long-term traders are still accumulating power for a price blast.

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BTC, XRP, and ADA Price Analysis for July 25

To achieve that, they should keep the price above the mirror level at $36,600.

Bitcoin is trading at $38,837 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.