BTC 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.
$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