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Bitcoin (BTC) Price Analysis for July 30

Price Predictions
Fri, 07/30/2021 - 15:08
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Denys Serhiichuk
Have bulls failed to get Bitcoin (BTC) to $40,000 thus far?
Bitcoin (BTC) Price Analysis for July 30
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 last day of the week is neither bullish nor bearish for the cryptocurrency market as some coins have already entered the correction zone, while others are still in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday, trades were held at medium volumes, and the pair consolidated in a narrowing range with support at the hourly EMA55.

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

Short-term sideways movement did not relieve the overbought market. A breakthrough to $42,500 is still possible, but a pullback below the moving average EMA55 is a signal for a rather deep decline to the support area of $36,000.

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

On the bigger time frame, Bitcoin (BTC) is about to get back to the liquidity zone around $39,700, where the sharp fall has started from.

Related
BTC, XRP, and BNB Price Analysis for July 29

Bulls might succeed in this situation as the trading volume is growing. Such a scenario is relevant until the end of the day.

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

On the daily chart, the chief crypto failed once again to fix above the vital $40,000 mark. In this case, there is a high probability of expecting a test of the $37,000 mark, followed by a bounceback. If that scenario comes true, Bitcoin (BTC) can surpass the mark of $40,000 next month.

Bitcoin is trading at $39,005 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.