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SpanishBTC Hits Fresh Monthly High at $39,850 mark, Trader’s Sentiment Turns Bullish; July 26, 2021
Bitcoin spikes up drastically and hits fresh 1 – month high at $39,850 mark. The traders are optimist about the BTC as buying side pressure was there when price slipped below $30,000 mark.
Top 5 Headlines on Digital Currency:
- Online ecommerce giant Amazon is set to start accepting Bitcoin payments this year and could develop its native token by 2022 – Investing.
- Cryptocurrency adoption is growing in Singapore, especially among younger generations looking to capitalize on the generational wealth potential of Bitcoin (BTC) and other digital assets, according to a new survey conducted by Asia-Pacific cryptocurrency exchange Independent Reserve – Investing.
- Twitter CEO Jack Dorsey – Bitcoin will be a big part of the company’s future – Investing.
- Protesters calling themselves the Popular Resistance and Rebellion Block have come out against El Salvador’s government passing a law making Bitcoin legal tender – Investing.
- Cryptocurrency was pushed by an event that took place online. The event saw three major bitcoin bulls – Elon Musk, Jack Dorsey, and Cathie Wood – chatting online in an open forum to discuss the future of the world’s number one digital currency – Investing.
Technical View:
- Bitcoin strengthens sharply and stabilizes above $39,000 mark.
- The pair made intraday high at $39,850 and low at $35,282 mark.
- Today a day chart is bearish but H1 chart with triple EMA confirms bullish trend in short run.
- A sustained close above $40,500 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $33,600 will check further supports.
| SUPPORTS | RESISTANCES |
| $35,280 | $40,100 |
| $34,700 | $40,570 |
| $34,150 | $40,790 |
| $33,940 | $41,050 |
| $33,600 | $41,222 |
Take a look and do trade wisely!
Good Luck
TP Global FX Research Team
With a decade of Forex Market insight, TP Global FX Research Team delivers you the Market Insight that boosts your Trading Skills