It’s lunchtime again. We look at the live Bitcoin (BTC) price and the prices of the top 25 crypto. Then we analyze rally we see. Is the bottom in sight? What is the Bitcoin (BTC) weekly forecast?
We begin, of course, with the live Bitcoin (BTC) price and the prices of the top 25 crypto.
Live Bitcoin (BTC) price and prices top 25 crypto are rising fast
At the time of writing, the live Bitcoin (BTC) price is quoting EUR 20,806.87 ($20,835.02). This is 5.80% higher than during our Bitcoin lunch yesterday.
The prices of most crypto from the top 25 are also rising rapidly. Apart from the stable coins, only Leo Token (LEO) leads a loss of 1.82%. Ethereum (ETH) records the best result with +13.06%, but there are more crypto that write their results in double digits. On the site of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day, including the whole weekend.
Does rise in Bitcoin (BTC) price mean the bottom is in sight?
With rapid price increases, the question quickly looms whether we have seen the bottom of the crypto crash and are about to experience another bullish trend. For the time being, it unfortunately doesn’t look like it today. We see that the Bitcoin (BTC) broke through $21,000 briefly this morning, but dropped back again. We also see that the BTC whales apparently do not see any reason to buy yet, thus apparently waiting for lower prices.
We do see that the BTC is approaching the bottom. In fact, less and less investors (currently only 1% per hour) are going for a short position, so there is less and less speculation on a price drop.
Polls and indicator show that a dip is coming
The fact that fewer investors are betting on a price drop does not mean that an immediate trend reversal is coming. Polls among investors and a technical indicator show that we should still take into account a price drop of Bitcoin below $10,000.
For example, Chinese Bitcoin investors at WEIBO were not enthusiastic.
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In a survey of more than 2,200 people conducted in Chinese crypto community on Weibo, 8% of the voters believed that Bitcoin and Ethereum could be buy the dip when the price reached $18000/1000; 26% will buy in $15000/800; 40% will buy in $10000/500. pic.twitter.com/L2HsetMSk7
– Wu Blockchain (@WuBlockchain) July 14, 2022
This is in line with the survey of Wall Street investors published by Bloomberg earlier this week.
Finally, we see that technical indicators also point to a further bull trend that could take the BTC price towards $10,000.
Bitcoin (BTC) price week forecast
By the way, according to this indicator, this is not going to happen in the short term yet, but rather in August or September. Looking at the Bitcoin (BTC) price for the coming week, we can see that we still have to reckon with making money in an uncertain crypto market.
Indeed, we currently see that the Bitcoin (BTC) price is still moving in the consolidation zone between $17,578 and $21,707. As long as the price stays above $20,000, the bullish trend prevails. To follow this bullish trend the BTC must first break through the 30-day moving average. This is currently at $ 21,596. Then there is the next major resistance at the 200-week moving average, which is at $24,657. The third resistance lies at $ 25,401.
If this fails, a bearish correction is in the picture. Whether the price can drop to $ 10,000 in the longer term is shown in the video analysis below.
In the short term this does not seem to be the case. After all, there are quite a few support levels which can cushion a bearish correction. The most important support level is of course the psychologically important $20,000. After that, we see a strong support level at the bottom of the consolidation bandwidth at $17,585. The third support level we find at $ 15,551. So it will be an exciting weekend.
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Want to stay informed about the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”