Bitcoin Price Analysis — July 26
Bitcoin resumed its bearish momentum on Tuesday, with the cryptocurrency falling beneath the 21K level for the first time in eight days. The bearish sentiment comes as the US dollar gained significant demand following favorable economic events. Speaking of, the US Fed is expected to deliver another 0.75% rate hike tomorrow, which could drive the benchmark cryptocurrency below the 20K peg.
BTC has enough room for additional declines in the coming days, warranting some caution on bullish bets. However, the bearish tension should ease if the cryptocurrency recaptures the 22K top.
Meanwhile, my resistance levels are at $21,000, $22,000, and $23,000, and my key support levels are at $20,000, $19,000, and $18,000.
Total Market Capitalization: $952 billion
Bitcoin Market Capitalization: $399 billion
Bitcoin Dominance: 41.9%
Market Rank: #1
BTC has enough room for additional declines in the coming days, warranting some caution on bullish bets. However, the bearish tension should ease if the cryptocurrency recaptures the 22K top.
Meanwhile, my resistance levels are at $21,000, $22,000, and $23,000, and my key support levels are at $20,000, $19,000, and $18,000.
Total Market Capitalization: $952 billion
Bitcoin Market Capitalization: $399 billion
Bitcoin Dominance: 41.9%
Market Rank: #1
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