BTC Recovers Noticeably, A Sustained close above $32,800 requires for the upside rally; July 23, 2021

Bitcoin hits fresh weekly high at $32,930 mark. Market sentiment turns positive for the BTC.

Top 5 Headlines on Digital Currency:

  • Israeli blockchain tech developer Kirobo is launching a decentralized P2P token swap solution – Investing.
  • A recent survey has revealed Bitcoin has gained traction with younger U.S. investors in terms of awareness, interest, and ownership over the past three years – Investing.
  • This Friday’s weekly Bitcoin (BTC) options expiry currently holds a $330 million open interest. Considering the recent struggle to regain the $32,000 support, this event is an important test of bulls’ willingness to display reversion signs – Investing.
  • Coinbase now accepts commerce payments in dogecoin. With the addition of the meme crypto, Coinbase Commerce now allows customers to check out and pay with seven cryptocurrencies – Investing.
  • The Reserve Bank of India continues to investigate the issuance of a central bank digital currency, or CBDC. The RBI’s development of it’s own CBDC could provide the public with many of the same uses as digital currencies such as Bitcoin, while limiting the average user’s exposure to volatility.

Technical View:

  • Bitcoin appreciates drastically and stabilizes above $32,200 mark.
  • The pair made intraday high at $32,930 and low at $32,213 mark.
  • Today a day chart is bearish but H1 chart with triple EMA confirms bullish trend in short run.
  • A sustained close above $32,800 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $31,820 will check further supports.
$31,820 $32,800
$31,450 $33,180
$31,100 $33,350
$30,678 $33,644
$30,200 $34,030

Take a look and do trade wisely!
Good Luck