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Bitcoin (BTC) Price Analysis for July 29

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Denys Serhiichuk

Does Bitcoin have any energy left to maintain the expansion going to $25,000?

Bulls hold dominating as many of the cash stay within the inexperienced zone.

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The speed of Bitcoin (BTC) has risen by nearly 4% during the last 24 hours.

BTC/USD chart by TradingView

On the hourly chart, Bitcoin (BTC) is buying and selling in the course of the slim channel between the help at $23,452 and the resistance at $24,445.

If patrons can maintain the value above $24,000, the breakout of $24,000 could result in the check of the $25,000 mark quickly.

BTC/USD chart by TradingView

On the larger timeframe, Bitcoin (BTC) can be wanting bullish as bears couldn’t seize the initiative after the false breakout of the $24,280 mark. If the each day candle closes close to this stage, there are excessive probabilities to get to the $25,500 space throughout the subsequent few days.

BTC/USD chart by TradingView

From the midterm viewpoint, Bitcoin (BTC) retains rising after the false breakout of the mirror stage at $22,000. In this case, the extra doubtless situation is the check of the closest resistance at $25,400 till the tip of the upcoming month.

Bitcoin is buying and selling at $24,055 at press time.

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