In this somewhat late Bitcoin (BTC) lunch, we naturally look at the live Bitcoin price and the prices of the top 25 crypto. Then we look at how trading veteran Peter Brandt sees the market. Then we focus on short-term BTC key prices and Bitcoin price forecast for the coming week.
We begin, of course, with the live Bitcoin (BTC) price and prices of the top 25 crypto.
Live bitcoin (BTC) price and prices top 25 crypto rise
At the time of writing, the live Bitcoin (BTC) price is EUR 23,317.06 ($23,510.01). This is 4.09% higher than during our Bitcoin lunch yesterday.
The prices of the top 25 crypto are also rising. Apart from the stable coins, we only see green numbers. The biggest increase is with +11.79% for Near Protocol (NEAR). On the site of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day, including the whole weekend.
Bitcoin (BTC) trading veteran Peter Brandt bullish again
One of the people who was critical of Bitcoin (BTC) during the last crash is veteran Peter Brandt. He has since revealed via Twitter that he owns the largest crypto currency. He also indicates that he is behind the bullish expectations of the moment, but he also has a warning.
Twitter won’t load because you didn’t give permission.
I own Bitcoin and accept most of the current bullish narrative
However, we go out on a ledge to assume that $BTC will forever represent the pinnacle of human ingenuity and achievement and that humanity will not surpass its essentials pic.twitter.com/dsy3VjKrlB
– Peter Brandt (@PeterLBrandt) July 21, 2022
Earlier, Brandt warned that new records will only be broken after the next BTC halving. The question is whether he is too pessimistic about this.
BTC price breaks through strong resistance
With bullish thoughts in the short term, Brandt at least seems to be right. Indeed, the currency has officially broken through 200-week moving average resistance (around $22,500).
This leaves the way open for a price jump. After a strong resistance at $27,500, the way is open to a BTC price of $30,000. The question is of course if and how fast this bull rally will take place.
Bitcoin (BTC) price forecast for the weekend and the coming week
First of all, it is important that the Bitcoin (BTC) converts the resistance of the 200-week moving average into a support level. As a result, Bitcoin (BTC) should close the week with a price above $22,800. Other traders are giving the largest crypto currency a little more room and are assuming a price bottom of $22,400 to keep a bullish pattern.
It is important to keep an eye on these minimum prices, as traders agree that price with which the Bitcoin (BTC) closes the week will be crucial for the coming week. With that, it can go two ways, heavily bullish or heavily bearish. In any case, volatility is to be expected. With that, it is once again wise to hedge by studying how to make money in an uncertain crypto market.
Of course, we look further ahead to what to expect next week.
Bitcoin (BTC) is headed for a volatile week. Here are the deciding factors
First, of course, there is the technical analysis. This indicates that after breaking resistance at the moving average in 200 weeks, we have a bullish trend on our hands. As long as the Bitcoin (BTC) price remains above $22,800, we can assume a bullish scenario, which will allow us to enter the range of the “overbought” zone. This lies between $ 26,768 and $ 29,287. As we saw earlier, there is some serious resistance in between at $27,500.
Given the strong resistances above this overbought zone, further price appreciation in the coming week does not seem opportune.
After all this good news, as so often in crypto, there is also a ‘but’. If the Bitcoin (BTC) price loses momentum and produces a daily candlestick chart below the moving average there is still an escape with a support level at $21,710. If the BTC price also drops through this bottom the bullish trend is officially broken. We will then return to the bearish scenario where the price will move between $21,710 and $17,578, where even a further decline towards $15,551 or, in a worst case scenario, $13,575 cannot be excluded.
Here are the macroeconomic factors that may affect the Bitcoin (BTC) price in the coming week
First, the problem remains that the market is unable to attract enough new buyers. With that, it comes down to institutional investors to keep Bitcoin (BTC) bullish with support purchases and pull through resistances. The question is to what extent Tesla’s sale of BTC has made them headstrong.
Another aspect is the USD exchange rate. The lower it gets, the better it is for BTC.
Finally, the Fed will make a new interest rate decision next Wednesday. We saw earlier that the crypto market and Bitcoin investors react strongly to these decisions. So it will be an exciting week for Bitcoin (BTC), which we will of course report on.
Want to stay up to date with 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.”