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Bitcoin Monday

19 July 2021 | ZebPay Trade-Desk

Bitcoin has been range-bound over the past 10 days trading between $31,000 to $32,500. The asset has also not benefited from volumes which is why it is unable to beat its resistance and witness a rally. The next few days remain crucial for Bitcoin as we expect to hear something about the Bitcoin Taproot Upgrade soon.

It’s been several weeks since BTC is consolidating and moving sideways with low volumes and last week the prices were stuck at the support level of $31,000. Technically, BTC is trading in a broad range from $31,000 to 36,500, and Breakouts on either side with good volumes will further decide the trend for the asset.

Key Levels:

Support 2Support 1AssetResistance 1Resistance 2
$28,800$31,000BTC$36,500$42,500

Disclaimer: This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in cryptocurrencies viz. Bitcoin, Bitcoin Cash, Ethereum etc.are very speculative and are subject to market risks. The analysis by Author is for informational purposes only and should not be treated as investment advice.

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