Bitcoin back above $32,000 mark, How Long will BTC sustain this level? July 22, 2021

Bitcoin spiked up sharply in previous session and jumps back above $32,000 mark.

Top 5 Headlines on Digital Currency:

  • Tech billionaire Elon Musk has revealed that SpaceX and Tesla hold bitcoins while he personally owns Bitcoin, Ether and Dogecoin. Tesla will likely start accepting Bitcoin again – Investing.
  • Tesla CEO Elon Musk has said for the first time that one of his companies, SpaceX, owns Bitcoin (BTC). Although the firm is yet to officially confirm how much bitcoin it has acquired, Tesla has already acquired $1.5 billion worth of the flagship crypto earlier in the year which sparked a massive bitcoin rally – Investing.
  • In the U.S., Fed Chairman Jerome Powell will likely be renominated for a second term, even as the decision is due later in 2021 and has reportedly not yet been put in front of President Joe Biden – Investing.
  • Elon Musk also acknowledged that Tesla is still not manufacturing its custom-designed 4680 cells for commercial use in electric cars or energy storage systems yet – Investing.
  • In a recent interview with Bloomberg, Mary Callahan Erdoes, JPMorgan’s director of Asset and Wealth Management, noted that most of the company’s clients view bitcoin as an asset class – Investing.

Technical View:

  • Bitcoin appreciates sharply and stabilizes around $32,000 mark.
  • The pair made intraday high at $32,388 and low at $31,794 mark.
  • Today a day chart is bearish but H1 chart with triple EMA confirms bullish trend in short run.
  • A sustained close above $32,185 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $31,450 will check further supports.
$31,450 $32,875
$31,100 $33,180
$30,678 $33,350
$30,200 $33,644
$30,050 $34,030

Take a look and do trade wisely!
Good Luck