Bitcoin trajectory before the July closing! BTC
Under the current circumstances, with the recent economic crises, the war in Russia and Ukraine, and the change in interest rates around the world, Bitcoin and the cryptocurrency market are experiencing strong pressure that caused it to fall to a new bottom and numbers for the first time since 2019 and under these circumstances, Bitcoin still maintains its strength and lack of The collapse, especially after pressures and skepticism, is one of the most influential leadership figures on the markets.
And even after Elon Musk withdrew more than 75% of his stake in Bitcoin, estimated at $936 million, or nearly one billion, and despite that, he remained coherently stronger at the bottom 19800-24200, and this shows us the reflection of the next explosion on Bitcoin and the currency market encrypted in general.
We notice from the chart before the monthly closing that Bitcoin forms an ascending channel after touching the bottom of the channel on July 13 at 18800 and rebounding to 24200 in the channel’s ceiling and then breaking an uptrend and rebounding from 20600 with high momentum in an attempt to breach the resistance and breach the channel’s ceiling.
Now we are waiting for the July 31 closing to confirm the validity of this pattern. The breach of 25500 is a real bullish indicator. The rebound from 25500 means a return to the bottom of the channel or 19800. This may happen with the current news about the Taiwan, China and the United States war.
July 31 is very important
And even after Elon Musk withdrew more than 75% of his stake in Bitcoin, estimated at $936 million, or nearly one billion, and despite that, he remained coherently stronger at the bottom 19800-24200, and this shows us the reflection of the next explosion on Bitcoin and the currency market encrypted in general.
We notice from the chart before the monthly closing that Bitcoin forms an ascending channel after touching the bottom of the channel on July 13 at 18800 and rebounding to 24200 in the channel’s ceiling and then breaking an uptrend and rebounding from 20600 with high momentum in an attempt to breach the resistance and breach the channel’s ceiling.
Now we are waiting for the July 31 closing to confirm the validity of this pattern. The breach of 25500 is a real bullish indicator. The rebound from 25500 means a return to the bottom of the channel or 19800. This may happen with the current news about the Taiwan, China and the United States war.
July 31 is very important
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